The European Commission has cleared the proposed acquisition of ConvaTec by Nordic Capital, which is domiciled in Jersey. ConvaTec, a wholly-owned US business unit of Bristol-Myers Squibb, and Unomedical, controlled by Nordic Capital, are both active in advanced wound care products. The Commission's initial investigation showed that the proposed acquisition would raise competition concerns in the United Kingdom, where the transaction would combine the two largest players in the wound care products market, resulting in very high combined market shares. However, Nordic Capital offered to divest Unomedical's entire wound care business. In light of this commitment, the Commission has concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it.