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 aconnolly4@bloomberg.net
To contact the editor responsible for this story: Allison Connolly at aconnolly4@bloomberg.net
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