GRACE TO ACQUIRE U.K. HEALTH CARE FIRM
GRACE TO ACQUIRE U.K. HEALTH CARE FIRM BOCA RATON, Fla., May 27, 1992 /PRNewswire/ -- W. R. Grace & Co.
(NYSE: GRA) today announced that a Grace subsidiary has conditionally agreed to acquire the Renacare health care unit of Lloyds Chemists plc for approximately $9 million.
Renacare, located in Romford, England, is the leading U.K. manufacturer and distributor of renal dialysis concentrates and associated products. Formerly part of Macarthy Laboratories Limited, it has annual sales of approximately $7 million. In announcing the transaction, Dr. Constantine L. Hampers, executive vice president of Grace and head of Grace's worldwide health care business, said: "Grace's acquisition of Renacare in the U.K. is an important strategic step in developing Grace's health care business on a global basis. Renacare's significant market share position in the U.K. will provide excellent synergies with Grace's health care business and is important to our long-term worldwide business strategy." Hampers added, "Renacare will serve two purposes. First, it will provide a channel to market and distribute Grace's health care products, and second it will serve as a supplier for Grace's own dialysis clinics in the U.K. and other European countries." Grace is the world's largest specialty chemicals company with a leadership position in health care. -0- 5/27/92 /CONTACT: Chuck Suits of W. R. Grace & Co., 407-362-2600 or 800-GRACE99/ (GRA) CO: W. R. Grace & Co.; Lloyds Chemists plc; Renacare ST: Florida IN: HEA SU: TNM
AW -- FL003 -- 4115 05/27/92 09:21 EDT
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|Date:||May 27, 1992|
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