ConvaTec, a New Jersey-based firm with a 400-employee plant in Greensboro that makes wound therapeutics and ostomy-care products, has been sold to an investment consortium for $4.1 billion.
ConvaTec's parent company, Bristol-Myers Squibb, sold the company to Nordic Capital Fund and Avista Capital Partners, subject to adjustments based on ConvaTec's audited 2007 financial statements.
The sale is expected to close in the third quarter.