Coloplast CEO Scouting Acquisitions Despite Buyback, Div
Coloplast A/S, the world’s largest maker of ostomy and urology products, still aims to do acquisitions in fiscal 2012 despite announcing a buyback program and increased dividend, Chief Executive Officer Lars Rasmussen said in a phone interview today.
“Even though we will be using these instruments we are still holding cash on our balance sheet,” he said in the interview. “We feel we should be doing acquisitions.”
The Danish medical-supplies manufacturer is eyeing acquisitions in the $2 billion-range in the areas of ostomy and continence care outside of Europe and wound care globally, he said.
The company’s outlook for 2011-2012 of stable organic growth on the year isn’t conservative, as “Southern Europe is still a question mark,” he said.
To contact the reporter on this story: Allison Connolly in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Allison Connolly at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.