A Sheffield healthcare company has announced a management buy out from its US-based parent company.
UK Medical is set to trade as an independent firm again after being sold by Becton Dickinson and Company.
Based on Lydgate Lane, Crookes, Sheffield, UK Medical supplies medical devices to the NHS and the private healthcare sector.
The company specialises in products used in procedures to diagnose and treat diseases in areas including breast radiology, urology and cardiology.
It will continue to be UK distributor for Becton Dickinson soft tissue and bone marrow biopsy products.
Ian Aaron, managing director, said: “This is a great deal for both companies and we look forward to a continued and long partnership.
“We want to partner with the NHS by supplying products that add value.
“We are crystal clear in our vision to improve the patient’s healthcare experience.
“It’s what drives us to challenge boundaries.”
In 2012, UK Medical was purchased by CareFusion, a medical technology company acquired by BD in 2015.
A team of dealmakers and funders from Yorkshire advised on the buyout.
Don Gray and David Bellamy from BHP Corporate Finance acted as lead advisors to the UK Medical management team.
Funding for the transaction was provided by HSBC’s South Yorkshire Corporate team.
Legal advice to the management team was provided by Brachers.