Cathay Health Increases its Stake in TISSIUM with €50M Series D

Cathay Capital

New financing to support TISSIUM’s commercial launch and platform extension


Paris, (France), May 23, 2023 – Today, Cathay Health announced its participation in the €50M Series D round of TISSIUM, a privately-owned medtech company developing biomorphic programmable polymers for tissue reconstruction. The investor syndicate brings new investors such as Fonds Stratégique des Transitions, managed by ISALT as well as Merieux Developpement, and includes historical investors such as Credit Mutuel Innovation and Sofinnova Partners.

Cathay Health reinvested over pro rata in this round of financing, based on the progress the company has made to get into clinical studies, its corporate development and its advancing commercial plans as well as its vision for further developing its product pipeline.

This latest funding round coincides with the achievement of important milestones for TISSIUM, notably its on-going first-in-human study on its first nerve repair product, COAPTIUM Connect, in Australia and the preparation of the commercialisation of its first products in nerve and hernia repair. The financing will allow TISSIUM to continue to execute on its development plan, funding the company for the commercialisation of its first products in nerve and hernia repair and fueling the extension of its pipeline of products and its platform.

TISSIUM will continue to pursue rapid international expansion, leveraging in-house production and state-of-the-art manufacturing facilities, as well as entering partnerships in certain verticals. In parallel, it will broaden its platform with more specialized products in the existing verticals (nerve, herna and cardiovascular) while also extending to other verticals in new therapeutic areas.

Christophe Bancel, CEO of TISSIUM, said: “With the closing of our Series D financing round, TISSIUM is well-positioned to finance the commercialization of its first products. This funding significantly bolsters our ability to move with speed towards our goal of enhancing tissue reconstruction for patients. We look forward to continuing our work to bring innovation in the space and develop products that make a difference in patients’ lives.”

Hongjie Hu, Managing Partner at Cathay Health, added: “Since leading TISSIUM’s 2021 Series C, we’ve been continuously impressed with the team and the company’s strong progress in developing multiple clinical programs off the TISSIUM biopolymer technology platform. We continue to believe that TISSIUM is creating the future of tissue reconstruction and are proud to continue supporting the company’s clinical and commercial growth of its expandable platform that can be applied toward driving better outcomes in multiple, large therapeutic areas.”





TISSIUM, a privately-owned MedTech company based in Paris, France and Boston, USA, is dedicated to the development and commercialization of products derived from its unique biopolymer platform. The company’s products will address multiple unmet clinical needs, including atraumatic tissue repair and reconstruction.

TISSIUM is developing a portfolio of products that leverage its proprietary family of fully biosynthetic, biomorphic, and programmable polymers, which are the foundation of the company’s technology platform. Currently, the Company has a pipeline of seven products across three verticals, including sutureless nerve repair, hernia repair and cardiovascular sealants. Each product is designed to enhance the tissue reconstruction process in a unique way. In addition, the company develops complementary delivery and activation devices for enhanced performance and usability of its products.

TISSIUM’s technology is based on world-class research and intellectual property from the laboratories of Professor Robert Langer (MIT) and Professor Jeffrey M. Karp (Brigham and Women’s Hospital), who co-founded the company in 2013.

For more information, please visit:

Follow us on LinkedIn, Twitter @TISSIUMtech.

​​About Cathay Health

Cathay Health, affiliated to Cathay Capital, is a tech bio fund investing at the convergence of healthcare, life sciences and technology. As a multi-stage venture and growth fund, it backs convergence medicine companies across Europe, North America and Asia whose tech-enabled solutions catalyze groundbreaking advances in medicine. From the world’s leading life sciences and technology hubs, including San Francisco, New York, London, Cambridge, Paris, and Basel, Cathay Health aims to partner with future leaders in the data-driven medicine era to transform human health and care in all its dimensions.

For more information, please visit us on the web or follow us on LinkedIn and Twitter @CathayHealth.

Categories: News


CapMan Growth exits Coronaria, continues as investor in Silmäasema


apMan Growth press release
19 May 2023 at 14:30 PM EEST

CapMan Growth exits Coronaria, continues as investor in Silmäasema

The ownership of Coronaria, one of the largest healthcare industry companies in Finland, is restructured. CapMan Growth and Tesi exit Coronaria while Cor Group, together with the company’s leadership and key persons, increase their ownership of the company to over 80%. As part of the restructuring, CapMan Growth invests in Silmäasema together with Elo, Ilmarinen, Konstsamfundet and key persons, as part of an investment round of around 40 million. Coronaria remains the largest owner of Silmäasema with an ownership of about 80%.

CapMan Growth has together with Coronaria’s main owner Cor Group and Mandatum Asset Management (MAM) agreed on an arrangement in which Cor Group increases its ownership in Coronaria. As CapMan Growth exits the company, the ownership share of products managed by the MAM Growth Equity team (MAM GE) also increases. As a result of this arrangement, Cor Group together with the company’s leadership and key persons, own about 82% of the company, while the ownership share of products managed by MAM GE remains around 18%.

”I am very grateful that I have had the opportunity to develop and build this wonderful company for so many years, while at the same time learning from unique entrepreneurs. At this point, I would especially like to thank Teppo Lindén, Ulla Näpänkangas, Marika Heikkala and Jari-Pekka Kelhä, and all the rest of Silmäasema’s and Coronaria’s management for their amazing work in an environment challenged by a public social and welfare renewal, covid-19, inflation and a war in Europe,” comments Antti Kummu, Managing Partner at CapMan Growth.

”I want to thank CapMan and Antti Kummu for providing us with resources to grow into one of the largest healthcare operators in the country, as well as the market leader in eye health. During CapMan’s ownership period our turnover has more than tripled from 117 million to 358 million. At the same time our personnel have grown from about 1,200 to 4,200 people”, comments Teppo Lindén, CEO at Coronaria.

CapMan Growth Equity Fund 2017 Ky fund is in carry and will have seven remaining assets following this exit.

Silmäasema’s ownership base broadens

Connected to this the CapMan Growth Equity II -fund has made an investment in Silmäasema as part of an investment round of about 40 million euros, which was also joined by Finnish institutional investors Elo, Ilmarinen and Konstsamfundet and key persons.

Coronaria continues as the main owner of Silmäasema with an ownership share of approximately 80% after the investment. The ownership share of investors and key persons in Silmäasema is about 20% after the investment. Following the investment, Antti Kummu will continue as a member of the company’s Board of Directors, together with Timo Larjomaa who will join as a new member.

Silmäasema is a subsidiary of Coronaria and the leading eye health operator in Finland, offering all services related to eye health and optical retail as a one-stop-shop. In a few years, the company has visibly strengthened its market position in Finland and reached a market leading position.

”As the Chair of the Board at Silmäasema I have been closely involved in the company’s development for over three years. I am very impressed with the company’s unique concept, leadership, and know-how. During this time the company has almost doubled in size and grown into a market leader in all its operating segments. This is a good base on which to build future growth,” comments Antti Kummu.

”Silmäasema continues strong growth in the eye health market. New investors strengthen the company’s ownership structure and enable investing in growth also going forward. We also receive new know-how to develop the company. The change in ownership structure will not change our operative activities, shares Teppo Lindén.

For more information, please contact:
Antti Kummu, Managing Partner, CapMan Growth, +358 50 432 4486

About Coronaria

Coronaria on is one of the most significant healthcare companies in Finland, offering versatile ophthalmological and optical services, specialized healthcare, oral healthcare, and rehabilitation services on a national level. In rehabilitation and therapy services, Coronaria is Finlands leading operator. Coronarias subsidiary Silmäasema is a market leader in eye health. Coronaria is part of the Finnish health and welfare group, Cor Group. In 2022 Coronarias turnover was 358 million euros and the company had about 4,200 employees.

About Silmäasema

Silmäasema is the largest eye health and optical retail operator in Finland. We see the whole picture, from meeting and treating our patients to Finnish eye health as a whole. Silmäasema’s over one thousand experts in eye health, treat close to a million clients a year. Silmäasema has nearly 150 optical stores and ophthalmologist centres, 18 private eye hospitals and seven providers of public eye health services across the country. Silmäasemas turnover in 2022 was 203 million euros and the company had about 1,000 employees.

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With 5.1 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at

Categories: News


Cathay Health Backed Ascend Gene & Cell Therapies Launches with over $130M in Funding

Cathay Capital

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Abacus Insights Enables Health Plans to Track Total Cost of Care Throughout the Claims Process

.406 Venture

Boston, May 9, 2023 –

Abacus Insights, the leader in data usability for healthcare payers, is introducing a data solution that better enables health plans to calculate and monitor their total cost of care in real-time and across all lines of business throughout the claims process. As a result, payers can closely track costs to target care for all members, address higher than expected claims and ensure sufficient reserves.

Medical costs account for 85 to 87 cents of every $1 spent by payers. For a plan with 100,000 Medicare members and 100,000 commercial members, reducing annual cost of care by 1% would generate more than $14 million in savings.

“This usable data on claims and the cost of care is foundational for improving quality and member experience and outcomes while controlling costs. It gives payers the information and insights they need to pursue key goals, from increasing preventative and early interventions for highly acute members and those with chronic conditions to working with providers to reducing out-of-network referrals,” said Minal Patel, CEO and founder of Abacus Insights.

Eliminating the lags and gaps in claims information improves a host of core operations and analytics, including:

  • maintaining adequate reserves
  • forecasting costs
  • designing and pricing value-based care arrangements and health-plan products
  • assessing network adequacy
  • developing risk scores for Medicare and ACA lines of business

Abacus Insights’ Cost of Care Management Solution pulls, consolidates and validates claims data wherever it is in the process, including pharmacy benefit managers, utilization management companies, delegated entities and other vendors and providers, so payers know how much has been paid or committed to spend at any moment in time, including by its delegated vendors. The usable data for claims also can be segmented and analyzed by line of business, product, geography, or other variables.

To improve claims cost planning and projections, Abacus Insights also can mine and incorporate other valuable information before, during and after care. The Abacus platform can add data about members searching the payer website or calling a service representative about whether a specific procedure is covered.

With the only HITRUST r2 data transformation platform and data solutions developed specifically for health plans, Abacus Insights makes healthcare data usable by ensuring it meets six dimensions—accurate, complete, timely, relevant, versatile and use case and application agnostic. Abacus Insights begins delivering business value in 4 to 6 months and at a 60% lower total cost than an internal build.

About Abacus Insights

Abacus Insights is a healthcare technology leader with the only data transformation platform and solutions built specifically for health plans. Focused on data quality and usability, Abacus Insights gives payers a new level of control and flexibility with their data by developing accurate, timely, and robust ecosystems that can support any analytics or other applications. Managing data for 21 million members, Abacus Insights partners with payers to deliver scalable solutions that drive strategic initiatives, control costs, and improve member lives and experiences.

Media Contact:
Lois Padovani


Categories: News


Gimv leads a 72 million € Series A financing round of Complement Therapeutics to finance further development of therapies for eye diseases


17/04/2023 – 07:27 | Portfolio

Complement Therapeutics announces the closing of a 72 million € Series A financing round led by Gimv together with existing investor Forbion and further joined by BioGeneration Ventures (BGV), Panakes Partners, Cambridge Innovation Capital (CIC), Hadean Ventures and Seroba Life Sciences. Complement Therapeutics will use the proceeds of this round to continue to develop its innovative therapies for the treatment of complement-related diseases, with particular focus on ophtalmology.

Complement Therapeutics, a spin-out of the University of Manchester founded in 2021, aims to transform the treatment of complement-mediated conditions by developing novel therapies such as CTx001, an innovative AAV gene therapy for the treatment of geographic atrophy, a progressive and advanced form of age-related macular degeneration (AMD) associated with significant, irreversible loss of vision.

Furthermore, the financing round will allow Complement Therapeutics to evaluate its pipeline assets for non-ocular indications as well as further develop the novel Complement Precision Medicine (CPM) platform.

Michaël Vlemmix, Principal Life Sciences at Gimv and Board Director at CTx comments: “One of the pillars of our Life Sciences strategy is to invest in companies where cutting-edge science could lead to a potential paradigm shift in the treatment and lives of patients.  Complement Therapeutics is a key example of such an investment whereby we are proud to have been able to build a strong syndicate, supported by a high-quality current investor base.

Rishabh Chawla, Associate of Gimv’s Life Sciences team and Observer at CTx adds:“With the ability to target the etiology of complement-related diseases along with a very experienced and dedicated management team, we are convinced that Complement Therapeutics will make a real difference to patients that have limited treatment options today.

For more information, please read the full press release from Complement Therapeutics attached.

Categories: News


Inato Raises $20 Million in New Funding to Make Clinical Trials More Inclusive

Cathay Capital
March 30, 2023

Categories: News


Vyaire Medical to Sell Consumables Business to SunMed


Vyaire Medical today announced an agreement for the sale of the Vyaire consumables business to SunMed, a leading North American manufacturer and distributor of consumable medical devices for anesthesia and respiratory care. The Vyaire consumables portfolio encompasses leading airway management and operative care technology, including well-known brands such as AirLife™ oxygen therapy, Vital Signs™ anesthesia circuits and SuperNO2VA™ nasal PAP ventilation. These established products offer a differentiated portfolio of products for patients.

0094 Vyaire Medical

“This divestiture allows Vyaire to focus on its industry-leading respiratory diagnostics and ventilation businesses and accelerate our strategic growth plans,” said Gaurav Agarwal, chief executive officer, Vyaire. “Uniting the industry-leading Vyaire consumables portfolio with SunMed’s compatible suite of products is a win-win for both companies, as well as customers and patients, and will enhance the potential for long-term growth of the combined consumables portfolio.”
“We are extremely pleased with this transaction, which will empower Vyaire to focus squarely on its specialty in respiratory diagnostics and ventilation moving forward, cementing its position as a market leader in this space,” said Steven Dyson, Partner at Apax. “We look forward to working with the Vyaire team on this exciting new chapter for the business.”

Upon completion of the transaction, the combined businesses will create a premier dedicated manufacturer of respiratory and anesthesia consumables. Together, these complementary product lines will enhance the overall product offering for SunMed’s customers and patients globally.

Terms of the agreement were not disclosed. Vyaire will continue to fully manage its consumables business and products until the transaction is finalized, with full support to customers, and will work to ensure continuity for partners and suppliers. The agreement is subject to antitrust regulatory clearance in the US. Pending such regulatory clearance and fulfillment of other conditions, Vyaire currently anticipates closing the transaction in the coming months.

Vyaire remains committed to its mission to empower the global respiratory community to enrich patients’ quality of breathing throughout their lives.

Categories: News


Gimv participates in $105 million financing of Mediar Therapeutics alongside fellow leading global life sciences investors to develop first-in-class fibrosis therapies


Topic: Investment

Mediar Therapeutics (Cambridge, MA, USA), a company developing a portfolio of first-in-class therapies to treat fibrosis, announces a 105mio USD financing including a 85mio USD Series A co-led by Novartis Venture Fund and Sofinnova Partners. The round is further joined by Gimv together with Pfizer Ventures, Mission BioCapital, Pureos, Bristol-Myers Squibb, Eli Lilly, Ono Venture Investment and Mass General Brigham Ventures.

Fibrosis, triggered by inflammation or injury, results in an abnormal production of scar tissue that can lead to organ failure. Luckily not all fibrosis leads to organ failure. Today, no cure for fibrosis exists and current therapies are suboptimal. Mediar Therapeutics was founded on pioneering fibrosis research from Harvard Medical School and Mass General Brigham & Women’s Hospitals. Mediar works on a pipeline of unique factors influencing myofibroblasts, the key cell type driving fibrosis progression.

This Series A financing will allow Mediar Therapeutics to accelerate with the development of a portfolio of first-in-class antibody treatments with a unique potential to treat fibrosis at different stages of the disease. Two of the programs will advance into human studies by 2024.

Andreas Jurgeit Ph.D, Partner Life Sciences at Gimv who has also joined the board of directors of Mediar Therapeutics comments: “Mediar is a unique combination of science, talent and the opportunity to serve a significant unmet medical need. Fibrosis contributes to a significant percentage of deaths in the industrialized world and today no cures or appropriate treatments exist. We are very pleased with Gimv joining a strong syndicate of leading global life sciences investors to back Mediar Therapeutics. We are looking forward to work closely together with the management, our industry partners and co-investors to realize Mediar Therapeutics’ mission.

Christoph Kocher, Associate at Gimv, added: “Mediar’s vision of leveraging myofibroblast biology to address major unmet needs in patients suffering from fibrotic pathologies fully embodies the mission of Gimv´s Life Sciences platform: Building leading companies that have a sustained impact on patients and society.

Categories: News


Ardian acquires stake in Théradial group, a leading provider of medical solutions for dialysis


08 February 2023 Growth France, Paris

Ardian is partnering with UI Investissement, which led a first transaction in 2017 alongside Théradial’s current management team.

Ardian, a world-leading private investment house, has acquired a stake in Théradial, a leading French player in the dialysis sector targeting high value-add segments in three main divisions: medical devices, drugs and healthcare software.

Founded in 1998 by Bruno Duval, and led by CEO Frédéric le Pottier since 2017, Théradial group is the leading French distributor of medical devices, drugs, oral nutritional supplements and software solutions for dialysis, oncology, gastroenterology and clinical nutrition. The group is headquartered near Nantes, France, and has 90 employees across France and Italy.

The group’s activity is structured around several divisions. The first – based on the group’s initial offering – is centered around the distribution of haemodialysis machines and other medical devices related to dialysis, which enables the removal of toxins from the blood that are usually filtered by the kidneys. The second is its portfolio of specialties medicines, which were developed when Théradial became a pharmaceutical establishment in 2014. Since 2021, Théradial has also developed a range of nutritional supplements for patients undergoing dialysis, which the group offers in partnership with the pharmaceutical company Indigo Therapeutics. The group’s third major division is its digital activity with EMA and SINED, proprietary software developed by Thema Group to support dialysis centres which was acquired by Théradial in 2019.

Over the last five years, Théradial has strengthened its market position, notably by increasing market share through its medical device offering, the launch of its dedicated pharmaceutical division, and the acquisition of Thema Group in 2019. Théradial Group’s offerings are primarily aimed at public health institutions, in addition to offering solutions and services to associations, private clinics and homecare providers.

Théradial has a skilled and experienced management team, built around its CEO Frédéric Le Pottier, which has ensured the continued development of the company, notably by diversifying through organic and external growth initiatives.

Alongside the management team, Ardian’s Growth team will support Théradial in a new phase of growth, based on four main objectives: to maintain a strong positioning in its original areas of expertise; to continue strengthening its medicinal solutions business; to accelerate the development of its nutrition offering; and to increase the market penetration of its Digital division.

“We are proud of this strategic partnership with the Théradial Group. We have followed the company’s growth closely over the past five years, and we have seen its full potential, driven by a skilled management team that we are delighted to now work alongside.” Alexis Saada, Head of Growth and Managing Director, Ardian

“The services offered by Théradial are highly essential and Théradial has been able to develop a strong expertise, while exploring solutions to better support patients receiving dialysis care. We are pleased to support Frédéric Le Pottier and his management team in a new phase of growth and we thank them for their confidence in Ardian.” Frédéric Quéru, Managing Director, Ardian

“We are delighted to welcome Ardian, who will support our leadership team and strengthen our market positioning. Partnering with a renowned investor like Ardian will enable us to implement our ambitious growth strategy and to further enhance our digital expertise and capacity for innovation.” Frédéric Le Pottier, CEO, Théradial

“This partnership with Ardian, a leading private investment house, perfectly illustrates the high ambitions that UI Investissement has for Théradial.  Together, we will facilitate the handover from Bruno Duval to his management team, and support Frédéric Le Pottier and his team in implementing Théradial’s transformation, strengthening its offer and expertise, and enhancing its external growth. In a sector where public interest is paramount, we are confident in Théradial’s development and positive impact.” Olivier Jarrousse, Managing Partner, UI Investissement



    • Deal team: Alexis Saada, Frédéric Quéru, Florian Dupont, Léa Chaplain
    • Financial advisor: Deloitte (Vania Mermoud, Renaud Adam, William Bray, Anas Majbar)
    • Strategic advisor: Opus Line (Alix Pradere, Youssef Mallat, Bertrand De Neuville)
    • Legal, regulatory and tax advisor: McDermott (Anne-France Moreau, Caroline Noyez)
    • Corporate lawyer: McDermott (Diana Hund, Herschel Guez, Robin Lamour)
    • Financing lawyer: McDermott (Pierre-Arnoux Mayoly, Shirin Deyhim, Camille Judas, Martin Baffou)
    • Tax lawyer: McDermott (Côme De Saint-Vincent, Oriane Beauvois)
  • UI Investissement

    • Deal team: Olivier Jarrousse, Stéphanie Pépineau
    • Structuring advisor: EdR (Nicolas Durieux, Pierre Boscher et Alexis Platet)
    • Financial advisor: PWC (Philippe Serzec, Guillaume De Rancourt, Ghita Rais, Louis Morante)
    • Strategic advisor: Ariane Santé Social (Thierry Boval, Agnès Robert)
    • Corporate lawyer: De Pardieu Brocas Maffei (Cédric Chanas, Mathieu Retiveau, Warren Wilson, Enguerrand Maloisel, Priscilla Van Den Perre)
  • Management

    • Management team: Frédéric Le Pottier
    • Corporate lawyer: Fidal (Sally-Anne Mc Mahon, Caroline Vanhoucke)
    • Tax lawyer: Fidal (Rozenn Berthelot, Edith Gueye)
  • Financing

    • Debt team: LCL (Silvère Prin, Karine Segur, Marion Johan, Charley Boulet), CIC Ouest (Marie-Line Goudé), Société Générale (Benoît Douard, Julien Rissel)
    • Financing lawyer: Sabine Bironneau-Loy


Ardian is a world-leading private investment house, managing or advising $140bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our1,000+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.


An independent company specializing in the development of unlisted French companies, UI has been committed to working alongside the managers of growing start-ups, SMEs and ETIs for more than 50 years to help them emerge and develop economically and sustainably successful companies.
UI Investissement manages nearly €1.5 billion and invests with 300 managers in sectors of activity that are essential to society, such as health, agribusiness, services and industry. Growth and buyout capital, the historical core of UI’s activity, represents more than half of the assets under management and some fifty companies that can rely on UI’s operational expertise and methodological tools. At the same time, the teams and investment vehicles dedicated to innovation and consolidation enable us to support companies throughout their life cycle and contribute to the economic dynamism of the regions. UI currently has more than 70 employees and 13 regional offices in Besançon, Clermont-Ferrand, Dijon, Lille, Limoges, Lyon, Marseille, Nantes, Orleans, Reims, Rennes and Strasbourg, in addition to its teams in Paris.


Theradial group specialises in the distribution of medical devices, pharmaceutical specialities, oral nutritional supplements and software solutions for dialysis, oncology, gastroenterology and clinical nutrition

Press contact


Categories: News


3i announces the sale of Q Holding’s Precision Components Division for proceeds of c.$172m


3i Group plc (“3i”) today announces that it has agreed the sale of Q Holding’s Precision Components Division, a leading provider of silicone and elastomeric molding and extrusion capabilities to the medical device and biopharma markets, to Cirtec Medical and SaniSure. Proceeds to 3i are expected to be c.$172m.

Cirtec Medical is acquiring Precision Components’ Rock Hill and Sturtevant operations and medical extrusion capabilities, which will provide Cirtec with additional high-value capabilities, such as silicone molding, silicone extrusion and polyisoprene molding, and exposure to complementary highgrowth end-markets including robotic surgery. This transaction enhances Cirtec’s ability to deliver vertically integrated capabilities, including engineering, tooling, and the manufacturing of critical components, sub-assemblies and fully-assembled complex devices.

SaniSure, a leader in single-use bioprocessing solutions, has acquired Precision Components’ Twinsburg operations, which produce industry leading silicone tubing. The addition of the Twinsburg facility will complement SaniSure’s existing portfolio of silicone and thermoplastic tubing products, further vertically integrating the business and enabling it to provide its customers with the highest quality components and assemblies in the industry.

3i invested in Precision Components’ parent Q Holding in 2014 and during its ownership has supported the acquisitions of Degania Medical and Silicone Altimex, and invested to expand its global manufacturing footprint with new facilities in Mexico, supporting investments in Europe, China and India. In April 2022, Q Holding’s QSR division, a leading developer and manufacturer of electrical connector seals, was sold to Datwyler.

Following this transaction, Q Holding will consist of its Catheter Technologies segment, which comprises the Degania, Arthesys and Biometrix brands that serve the medical device market with a wide range of catheter products. Catheter Technologies serves leading global OEMs with catheter solutions for the cardiovascular, vascular, enteral feeding, urology and general surgery markets. The segment has facilities in Israel, France, India and Slovakia.

Richard Relyea, Partner, 3i, commented: “We are proud to have partnered with Q’s leadership team to grow Precision Components into a leading global manufacturer of highly-engineered medical device components. These transactions will enable the continued strong growth of the Precision Components operations, aligning them with highly complementary companies and teams that bring additional capabilities and enhanced solutions that will benefit their customers and patients. We look forward to continuing to work with Catheter Technologies to achieve its growth initiatives.”The transaction is expected to complete in the quarter, subject to customary antitrust approvals.


Download this press release  

3i Group plc
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Silvia Santoro
Shareholder enquiries
Tel: +44 20 7975 3285

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit:

About Precision Components

Precision Components is a leading elastomeric solutions provider serving the medical device market. The company has decades of experience providing silicone, polyisoprene and other elastomersbased seals, valves, stoppers, duckbills, and other solutions created to customer specifications.

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

Categories: News