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Mergers: Commission clears acquisition of GHD by Nordic Capital

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step by stepThe European Commission has approved under the EU Merger Regulation the acquisition of GHD Verwaltung GesundHeits GmbH Deutschland (GHD) of Germany by Nordic Capital Fund VIII of Jersey, part of Nordic Capital Funds (Nordic Capital).

GHD is active, among others, in the production of ostomy products, the wholesale of medical devices and pharmaceuticals and the provision of medical devices and certain pharmaceutical products with associated services to non-hospitalized patients (home care), especially in Germany. Nordic Capital is a private equity fund with portfolio companies active in Europe in a wide range of sectors, including the production and sale of ostomy and wound care products. The parties' activities overlap in the manufacturing/sales of ostomy products in nine European Economic Area (EEA) countries.

The transaction also creates vertical relationships between the manufacturing and sale of wound care products, upstream, and the downstream markets for the wholesale of medical devices/pharmaceutical products and home care in Germany. The Commission concluded that the proposed acquisition would not raise competition concerns given the parties' moderate combined market positions resulting from the proposed transaction and the presence of a number of strong players. The transaction was examined under the normal merger review procedure.

More information is available on the Commission's competition website, in the public case register under the case number M.7323. 

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