Clinisupplies Acquires Great Bear Healthcare to Expand Direct-to-patient Chronic Care Services in the Community

Rhea-AI Summary

Clinisupplies announces acquisition of Great Bear Healthcare, a UK-based manufacturer and supplier of continence products. The acquisition aims to strengthen Clinisupplies' core business in the UK and build an international chronic care medical devices platform.

Positive

• The acquisition of Great Bear Healthcare will strengthen Clinisupplies' core business in the UK and create a platform for future growth.
• Clinisupplies becoming part of the KKR network will allow them to support more consumers and engage with more healthcare professionals.

Negative

• No negative takes found.

LONDON--(BUSINESS WIRE)-- Clinisupplies, a leading manufacturer and supplier of continence care consumables, today announced the acquisition of Great Bear Healthcare, a UK-based manufacturer and supplier of continence products for managing acute and chronic conditions.

Clinisupplies and Great Bear Healthcare are both growing organisations predominately focused on the UK healthcare market for continence products. The two companies provide continence care nursing services to support the NHS and offer a dedicated home delivery service for continence care products to patients’ homes.

Great Bear Healthcare is the first acquisition since Clinisupplies became a KKR portfolio company in January 2023 and is allied to the ambition of building an international chronic care medical devices platform.

Paul Cook, CEO of Clinisupplies, commented: “Becoming part of the KKR network and leveraging their team’s expertise helps us to support more consumers and engage with more healthcare professionals. Great Bear is the perfect fit for Clinisupplies to strengthen our core business in the UK and create a platform for future growth. We look very much forward to working with the Great Bear team and continuing the great work of founders who created a successful organisation.”

Al Hale, CEO of Great Bear, commented: “Clinisupplies is the right organisation to take Great Bear onto the next stage of its growth journey. The last 16 years has seen Great Bear grow from a new entrant to a strong player within the UK continence market. The investment which Clinisupplies is now able to bring to the organisation will enable further growth to support more patients across the UK.”

KKR invested in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth healthcare companies. KKR has a long track record of supporting healthcare companies globally, having invested approximately $19 billion in the sector since 2004.

About Clinisupplies
Clinisupplies is a leading UK-based manufacturer and supplier of medical appliances specialising in continence products for managing acute and chronic conditions. Employing over 500 people in the UK, China and India, Clinisupplies supplies its products to the NHS and delivers direct to patients’ homes through Clinidirect, its dispensing appliance contractor.

Clinisupplies is focused on developing products which are simple and discreet to use. Its product development team works with clinicians and patients to develop a strong product pipeline to be manufactured at its CE, ISO, US FDA approved facilities.

Please visit www.clinisupplies.co.uk for further information.

About Great Bear
Great Bear Healthcare is a UK-based manufacturer and supplier of continence care products and operates the home delivery service Nightingale. The company was created in 2007 with the aim of developing a high-quality range of continence products to enable people to live the life they want to lead.

Great Bear has grown consistently and today employs more than 120 people working across Great Bear & Nightingale home delivery service. Great Bear is headquartered in Cardiff with home delivery services based in Cardiff & Bridgwater.

Please visit www.greatbearhealthcare.co.uk for further information.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230711298450/en/

FGS Global

Alastair Elwen / Sophia Johnston

Telephone: +44 20 7251 3801

Email: KKR-Lon@FGSGlobal.com

Source: KKR & Co. Inc.

FAQ

What is the acquisition about?

The acquisition is about Clinisupplies acquiring Great Bear Healthcare, a UK-based manufacturer and supplier of continence products.

What are the benefits of the acquisition for Clinisupplies?

The acquisition will strengthen Clinisupplies' core business in the UK and create a platform for future growth.

Who invested in Clinisupplies?

Clinisupplies was invested in by KKR through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth healthcare companies.