gtcr Archives - Medical Design Sourcing

Biocoat receives strategic private equity investment

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,…

Carlyle makes a significant investment in Resonetics

Carlyle-managed funds have acquired a significant interest in medical device contract manufacturer Resonetics.

Today’s announcement did not include the investment size, but the deal values Nashua, New Hampshire–based Resonetics at roughly $2.25 billion.

Carlyle joins existing investor GTCR as a meaningful shareholder in the company.

Resonetics focuses on producing highly technical components for medical device applications, providing services from design and development to high-volume manufacturing.

“Our business has advanced significantly over the past four years, expanding on our scale and capabilities and becoming an increasingly valuable partner to our customers, and we look forward to keeping the momentum going,” Resonetics CEO Tom Burns said in a news release.

Steve Wise, a Carlyle managing director and head of global healthcare, said Carlyle’s global network will open up new avenues of organic opportunities for Resonetic…

Resonetics buys Hudson Medical Innovations

Resonetics said today that it has purchased Hudson Medical Innovations from Preco.

Hudson manufactures microfluidics, point-of-care diagnostics (including application of reagents), biosensors, and advanced wound care devices. The company was founded in 2012 and is headquartered in Hudson, Wisconsin.

Resonetics said Hudson’s responsive prototyping capabilities and proprietary, automated equipment helped build its reputation as a supplier that supports customers with precise products from development to high-volume production.

“Hudson Medical Innovations is utilizing many of the same principles that have driven Resonetics’ growth: a focus on the customer, innovative problem solving, and purpose-built equipment to scale production efficiently,” Resonetics President and CEO Tom Burns said in a news release. “The Hudson team has established a great position serving leading customers in very exciting high-growth markets, expanding the breadth and diversi…

Private equity firm GTCR forms Epselon Global to acquire healthcare businesses

GTCR announced that it entered into a Leaders Strategy partnership to form Epselon Global with a focus on acquiring healthcare businesses.

The private equity firm partnered with Michael Mulhern and Phil Macnabb to form the Chicago-based company centered around acquiring companies and assets as part of a strategy to build a market-leading healthcare business, according to a news release.

Leaders Strategy was pioneered by GTCR to find and partner with management leaders in core domains to identify, acquire and build market-leading companies.

Through the Leaders Strategy, GTCR will invest in Epselon from its GTCR Fund XIII, a private equity fund with $7.5 billion in limited partner capital commitments. Mulhern will serve as the executive chairman and Macnabb will hold the role of CEO, while each will make a substantial investment alongside GTCR.

“We are very excited to once again partner with Michael and Phil,” GTCR managing director Sean…

Corza Medical set to take on “almost monopolistic” surgical giants

Corza Medical, a new venture backed by the financial firepower of private equity giant GTCR, is looking to build a surgical tool supplier that its executive chairman Greg Lucier says can compete with “almost monopolistic” leaders in the space.

To mount the challenge, Corza acquired Surgical Specialties Corp., a supplier of surgical sutures and ophthalmic knives. Corza will use this beachhead in Westwood, Mass., to build a pipeline of acquired assets including TachoSil, a surgical patch product line Corza acquired from Takeda Pharmaceuticals last year.

In an interview with the DeviceTalks Weekly podcast, Lucier, the former CEO of spinal company NuVasive (NSDQ:NUVA) and diagnostic company Life Technologies, said management believes “there is an opening for a pretty good-sized surgical tools and technologies company to compete against the Ethicons and the Medtronics of the world.”

Lucier said the two Goliaths have reached a size that makes them “almost mono…