TA Associates in talks to buy Advanced Medical Solutions
Advanced Medical Solutions is in talks with TA Associates over a potential takeover. The deal could value the UK medical supplier at over 600 million pounds.
The British medical supplier ADVANCED MEDICAL SOLUTIONS confirmed on Monday that it is in negotiations with the United States private equity firm TA Associates regarding a potential takeover. This approach is the latest in a series of bids for London-listed companies as overseas buyout firms seek to take advantage of relatively low equity valuations in the United Kingdom. While the specific terms of the potential takeover have not yet been disclosed by the company, reports from Sky News indicate that TA Associates is preparing a 280-pence-per-share offer. This proposal would value the healthcare products manufacturer at more than £600 million, or approximately $809.52 million. Under the regulatory framework of the UK Takeover Code, TA Associates must either announce a firm intention to make an offer or walk away from the process by May 16. ADVANCED MEDICAL SOLUTIONS, which develops and supplies wound-care dressing technologies, has attracted private equity interest in the past, including from firms such as Bridgepoint. TA Associates has remained active in the British market, following its $722 million acquisition of the data and analytics firm FD TECHNOLOGIES PLC last year.