SOURCE: BSN medical

BSN medical

September 07, 2015 08:30 ET

BSN medical Acquires JoViPak to Become a Full Solution Provider in Lymphology

BSN's Market-Leading Position in Lymphoedema Management Strengthened as It Builds Strong Foothold in Attractive, Rapidly Developing Segment

HAMBURG, GERMANY--(Marketwired - Sep 7, 2015) - BSN medical continues to strengthen its position as a market-leading provider of lymphoedema therapy solutions with the purchase of JoViPak®, a manufacturer of lymphoedema garments. This acquisition complements BSN's comprehensive product portfolio designed for the management of lymphatic disorders, and allows the company to cater to the underserved, yet rapidly growing market of lymphoedema management during the day and nighttime. BSN's acquisition of JoViPak is an attractive complement to the recently announced acquisition of FarrowMed, which provides BSN with the patented FarrowWrap® compression wrap used to manage lymphoedema.

"We are very proud to welcome JoViPak to the BSN family," said Dr. Guido Oelkers, CEO of BSN medical GmbH. "Their team has successfully created unique and high-quality products, and they have built an excellent reputation in the market. This acquisition further complements our comprehensive portfolio of lymphoedema solutions. JoViPak's exceptional night care portfolio is a perfect addition to the JOBST®, Elvarex® and FarrowWrap® brands offered by BSN, and further enhances our ability to provide best-in-class therapeutic solutions to the patients living with lymphoedema day and night."

JoViPak is a privately held company based in Seattle, and was founded by JoAnn Rovig. The company has built its reputation on producing high-quality lymphoedema management garments for the treatment of both acute and chronic oedema. JoViPak will be integrated into BSN's wound care and vascular franchise while its operations will remain in Seattle.

"Being afflicted with lymphoedema myself, I created JoViPak out of compassion for and an understanding of patients," said JoAnn Rovig, president and CEO of JoViPak. "We are very proud that JoViPak has developed into a premier provider of high-quality lymphoedema products. The lymphoedema treatment market still lacks awareness, and the combination of BSN and JoViPak is a tremendous opportunity to not only offer patients a comprehensive treatment solution with garments for day and nighttime use, but also to raise awareness of the disease."

BSN has a leading market position in custom-made day garments with the JOBST Elvarex product range, and a competitive wrap solution with the FarrowWrap portfolio. With the addition of JoViPak, BSN will be able to address the custom and ready-to-wear nighttime garment market used to manage lymphoedema symptoms. As a result of the acquisition, BSN will benefit from an increased market presence in the United States. BSN's global footprint and sales network will make JoViPak's products available to even more patients in the United States and around the world.

The Walden Group, a healthcare investment banking firm based in Tarrytown, N.Y., represented JoViPak and arranged for the transaction. Both parties agreed not to disclose the transaction details.

About BSN medical
BSN medical is a global leader in wound care and related vascular diseases, lymphology and non-invasive orthopaedic products. Founded in 2001, the company currently employs approximately 5,500 members of staff, and generated revenues of EUR 762m in 2014. The company aims to provide an integrated therapy-driven approach -- grounded in a broad portfolio of products, enhanced by insights into current therapeutic areas and complemented by a progressive approach to partnerships. Its well-known brands such as Leukoplast®, Cutimed®, JOBST, Delta® and Actimove® are among the most trusted in healthcare. With its comprehensive product portfolio, BSN medical addresses patients' needs in the most prevalent conditions in wound care and vascular diseases, and orthopaedic treatments. More information: www.bsnmedical.com

About JoViPak
JoViPak is a socially responsible manufacturer of products used to manage acute and chronic oedema and related venous insufficiency. The company sells compression garments, liners and pads, and has been successfully doing so for over 15 years. Founded by JoAnn Rovig, a renowned lymphoedema therapist, educator, and cancer survivor, JoViPak has been a leader in the industry since its inception. Based in Seattle, the company's products are manufactured exclusively in the USA while JoViPak serves both the domestic and international communities. Thanks, to input from doctors, therapists and patients, the company continues to innovate and add new products to stay at the forefront of its industry. More information: www.jovipak.com

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