Coloplast

History

Coloplast was founded in 1957 by Aage Louis-Hansen. His son Niels Peter Louis-Hansen owns 20% of the company and is deputy chairman. It employs more than 12,000 people and operates around the world, with sales activities in 53 countries and production in Denmark, Hungary, France, China, and the US. It has its global headquarters in Humlebæk, Denmark. Its United States operations and North American headquarters are based in Minneapolis, Minnesota. The company manufactures and supplies products to hospitals and institutions, as well as wholesalers and retailers. In selected markets, Coloplast is a direct supplier to consumers.

The company had revenues of DKK 18.554 billion (US$2.45 billion) in 2020/2021. Europe constitutes its biggest market with 63% of sales, while 22% of sales are in North America and 15% in the rest of the world. Coloplast is listed on the Danish Stock Exchange, and has for a number of years been represented among the 20 most-traded shares in the country.

In 2016, Coloplast was listed as the 22nd most innovative company in the world (and among the 10 most innovative in Europe) by Forbes, after being listed by the magazine as 33rd the year before. The company has been featured in Star Tribune's annual list of top employers in Minnesota.

Acquisitions

In 2010, the company acquired Mpathy Medical Devices.

In November 2016, Coloplast acquired Comfort Medical for US$160 million. Comfort Medical was a direct-to-consumer medical supplier based in Coral Springs, Florida. Prior to the acquisition by Coloplast, Comfort Medical had acquired Medical Direct Club as well as Liberty Medical's urological division in 2015. In 2020, Coloplast announced the acquisitions of Hope Medical and Rocky Medical Supply, and integrated the organizations into Comfort Medical.

In November 2021, Coloplast announced the acquisition (from PAI Partners) of Atos Medical and its laryngectomy technology for €2.16 billion (US$2.49 billion).

Transvaginal surgical mesh lawsuits

In 2019, the US Food and Drug Administration ordered Coloplast and Boston Scientific to halt the sale and distribution of transvaginal surgical mesh implants for failure to prove their mesh products were safe and effective for the repair of pelvic organ prolapse. Coloplast was one of several companies that had previously settled multimillion-dollar lawsuits for damages caused by transvaginal mesh implants.

References

References

1. "Annual Report 2019/20". Coloplast.
2. "Niels Peter Louis-Hansen".
3. "Investor Relations - Corporate".
4. "Gynækolog Niels Lund Middelfart".
5. (30 August 2016). "10 Most Innovative Companies in Europe 2016: Coloplast".
6. (2018). "The World's Most Innovative Companies".
7. Lee, Thomas. (29 October 2010). "Coloplast buys Mpathy Medical for $30M leg up in incontinence".
8. (16 June 2017). "Coloplast to buy Comfort Medical for $160M".
9. (1 December 2016). "BRIEF-Coloplast acquires Comfort Medical in US". [[Reuters]].
10. (8 November 2021). "Coloplast to acquire Atos Medical in $2.5 billion deal; shares rise". [[Reuters]].
11. (8 November 2021). "Coloplast to acquire Atos Medical in $2.5 billion deal, shares rise". [[Reuters]].
12. Hale, Conor. (19 April 2019). "FDA orders Boston Scientific, Coloplast to halt transvaginal mesh sales".
13. Llamas, Michelle. (June 2019). "Transvaginal Mesh Verdicts and Settlements".