DALLAS, Oct. 5 /PRNewswire-FirstCall/ -- Kimberly-Clark Corporation (NYSE: KMB) announced today that it has acquired Baylis Medical Company's pain management business, which includes a number of innovative, minimally-invasive radio-frequency pain management products. Kimberly-Clark's Health Care business has been the exclusive distributor of Baylis Medical's pain management products in the U.S. since 2001.
The acquisition improves the competitive position of Kimberly-Clark Health Care in the $2 billion global market for minimally invasive chronic spinal pain management. Financial terms of the transaction were not disclosed.
"The acquisition of Baylis Medical's pain management business is consistent with our global business plan strategy to invest in the higher-growth, higher-margin medical device market," said Joanne Bauer, president, Kimberly-Clark Health Care. "This transaction will enable us to accelerate the growth of our pain management business around the world while strengthening our commitment to patients suffering from chronic spinal pain. Together with Baylis Medical, we're enhancing patients' quality of life through minimally invasive, radio-frequency therapies."
Baylis Medical President Frank Baylis said that today's announcement is a logical move for both companies. "We are very excited about Kimberly-Clark's acquisition of Baylis Medical's pain management business. We've enjoyed an excellent and mutually beneficial working relationship over the last eight years and integrating our technology with Kimberly-Clark's global resources makes for a unique and powerful offering in the pain management category," he said.
About Kimberly-Clark and Kimberly-Clark Health Care
Kimberly-Clark and its well-known global brands are an indispensable part of life for people in more than 150 countries. To learn more about Kimberly-Clark and its 137-year history of innovation, visit www.kimberly-clark.com.
Around the world, medical professionals turn to Kimberly-Clark for a wide portfolio of solutions that improve the health, hygiene and well-being of their patients and staff. As part of their healing mission, caregivers rely on Kimberly-Clark Health Care to deliver clinical solutions and educational resources that they can depend on to prevent, diagnose and manage a wide variety of healthcare-associated infections. This over $1 billion global enterprise of Kimberly-Clark Corporation holds the No. 1 and No. 2 market share positions in several categories including infection control solutions, surgical solutions, pain management and digestive health. And throughout the care continuum, patients and staff alike trust Kimberly-Clark* medical supplies and devices, Kleenex tissues, Kimberly-Clark* professional skin care products, and Scott towels for day-to-day needs. For more information, please visit http://www.kchealthcare.com.
About Baylis Medical Company
Baylis is a leading developer, manufacturer and supplier of high-technology medical devices for chronic pain management, interventional cardiology, and radiology. Founded in 1986 in Montreal, Quebec, Baylis has grown to have offices across Canada as well as in the United Kingdom and Asia. The company's research, development and manufacturing departments are located in Mississauga, Ontario. Baylis presently employs over 130 staff and markets its products in over 60 countries. Baylis Medical's vision is to bring to market state-of-the-art medical products that will improve the lives of people around the world.
Certain matters contained in this news release concerning the business outlook, including expected savings, anticipated financial and operating results, strategies, contingencies and anticipated transactions of the company constitute forward-looking statements and are based upon management's expectations and beliefs concerning future events impacting the company. There can be no assurance that these future events will occur as anticipated or that the company's results will be as estimated. For a description of certain factors that could cause the company's future results to differ materially from those expressed in any such forward-looking statements, see Item 1A of the company's Annual Report on Form 10-K for the year ended December 31, 2008 entitled "Risk Factors."
SOURCE Kimberly-Clark Corporation
|SOURCE Kimberly-Clark Corporation|
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