Biocoat announced today that private equity firm GTCR has made a strategic investment in the maker of hydrophilic biomaterial coatings for medical devices.
The deal closed yesterday. The companies did not disclose financial terms. Biocoat’s existing majority investor, 1315 Capital, will retain a minority stake in the Horsham, Pennsylvania–based company. In addition to making coatings, the company provides related services and dip-coating equipment for medical devices.
Biocoat officials say the recapitalization will enable the company to continue its growth in the biomaterial coatings market. The money will go toward global growth opportunities, enhanced product offerings and manufacturing facility expansion. (Find out more from Biocoat at Booth No. 3226 at MD&M Minneapolis, which runs today and tomorrow.)
“I am very proud of the Biocoat team, which has flawlessly executed on our aggressive growth strategies over the past several years,…