Round Lake, Illinois (ots/PRNewswire)
Fenwal Inc. today announced its launch as an independent company.
The new corporation is formed upon Baxter Healthcare Corporation
completing the sale of its Transfusion Therapies business to Texas
Pacific Group (TPG) and Maverick Capital, Ltd.
Established by TPG and Maverick Capital, Ltd. as an independently
operated company, Fenwal now becomes one of the world's largest
suppliers of products and services to the transfusion medicine
industry. Since it was first established in 1949, the Fenwal brand
has become recognized around the world as being synonymous with
innovation in transfusion medicine.
"More than 50 years ago, this business was created with a single
purpose: to support the mission of health-care providers to save and
improve lives by providing high quality, innovative blood collection
and processing products and services," explains Ron K. Labrum,
President and CEO of Fenwal. "Today, this purpose is renewed as
Fenwal once again becomes an independent company."
A pioneer in the science of transfusion medicine, Fenwal has
introduced technological breakthroughs that have helped make blood
collection and blood therapy a reality, and its advanced technologies
have helped to ensure a safe and plentiful global blood supply. "We
are focused on delivering new and better solutions and products that
are developed in collaboration with our customers, and backed by the
service and support expected of an industry leader," said Labrum. "As
an independent business, Fenwal will have a singular focus and
resources to continue investment in research and development, as well
as pursue opportunities to shape the future of transfusion medicine."
Baxter will continue to provide certain manufacturing,
distribution and support services to Fenwal for a period of time
following the close, under transition agreements signed by the
companies. "As the transfer of ownership occurs, our first priority
is to maintain excellence in customer service and to execute a
seamless transition of ownership," said Labrum.
TPG is a private investment partnership that was founded in 1992
and currently has more than US$30 billion of assets under management.
With offices in San Francisco, London, Hong Kong, New York,
Minneapolis, Fort Worth, Melbourne, Menlo Park, Mumbai, Shanghai,
Singapore and Tokyo, TPG has extensive experience with global public
and private investments executed through leveraged buyouts,
recapitalizations, spinouts, joint ventures and restructurings.
Please visit http://www.tpg.com
Dallas and New York-based Maverick Capital, Ltd., a manager of
private investment funds, is also an investor in this transaction.
Fenwal Inc. has five manufacturing plants located in Haina,
Dominican Republic; San German and Maricao, Puerto Rico; La Chatre,
France; and Bir Drassen, Tunisia. The company has approximately 3,500
employees worldwide, and annual sales of more than US$500 million.
Fenwal's global team is focused on the development, manufacture
and global marketing of products that allow blood centers, hospital
blood banks, and plasma collection centers throughout the world to
collect, separate, process, filter, store and administer whole blood
and blood components for therapeutic use. To enhance the safety of
transfusion medicine, Fenwal has focused on improved patient
protection and has played a key role in developing automated systems
and safety systems for whole blood collection. From the first fully
automated blood cell separator to the most advanced apheresis
technology, Fenwal continues to be a world leader in the development
of innovations that change the practice of transfusion medicine.
Current product development is focused on systems that facilitate
the process of cell separation using automated methods, systems to
remove leukocytes (white cells) from blood components, and other
processes to aid in ensuring a safe and available global blood
supply. Please visit http://www.fenwalinc.com
Web site: http://www.fenwalinc.com
ots Originaltext: Fenwal Inc.
Im Internet recherchierbar: http://www.presseportal.ch
U.S. Media, Lisa Farrugia, +1-847-270-3965, or Tanya Tyska,
+1-847-270-4918, or Europe Media, Caroline Dekeuleneer,
+32-(0)2-413-03-40 (phone), or +32-(0)486-58-18-39 (mobile), or
Investors, Caroline Luz, +1-203-656-2829, all of Fenwal Inc.