DCC’s healthcare segment has agreed to buy medical devices business Medi-Globe Technologies in a deal valued at nearly $246.1m (€245m) in cash.

The DCC healthcare segment provides products and services to healthcare providers as well as health and beauty brand owners with operations in Ireland, the US, the UK and the DACh region (Germany, Austria and Switzerland).

It operates through two businesses, DCC Vital and DCC Health & Beauty Solutions.

DCC Vital sells and distributes medical products to providers in all sectors of the healthcare market, from hospitals to community and primary care, in Ireland, the UK and DACh regions.

The deal is said to be DCC Healthcare’s largest transaction to date. It also supports a further material expansion of DCC Vital’s presence in the European healthcare market after the purchase of Worner Medical in May 2021.

Founded in 1990, Medi-Globe is engaged in developing, producing and distributing single-use devices for endoscopy in testing and therapeutic processes. It has nearly $120.5m (€120m) in revenues.

The company’s products are sold to hospitals and procurement organisations in more than 120 countries through direct sales operations in the Czech Republic, Austria, Germany, Brazil, the Netherlands and France, as well as an international distributors network.

DCC CEO Donal Murphy said: “The synergistic acquisition of Medi-Globe significantly expands and enhances DCC Vital’s position in the medical devices sector.

“It will create a leading international platform in single-use medical devices for minimally invasive procedures, with strong product development capability.

“The acquisition of Medi-Globe, and other recent acquisitions in DCC Healthcare and DCC Technology, are consistent with our ambition to really scale our operations in these higher growth sectors.” 

The deal is subject to competition authority approval in Germany and France. It is anticipated to be concluded in the fourth quarter of the year.