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.

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.

-Ends-

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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: www.3i.com

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.

TFS HealthScience (TFS), a global contract research organization (CRO), acquires Appletree CI Group (Appletree) to enhance the company’s existing expertise in the complex fields of ophthalmology, medical devices, and pediatric studies, simultaneously expanding geographic reach for clients.

Appletree CI Group was founded in 2013. The company is focused on five primary business areas; in addition to ophthalmology and medical devices, they have expertise in the fields of dermatology, pediatric trials, and regulatory affairs.

Ophthalmology is a rapidly growing field of medicine, with novel innovations and cutting-edge treatments for sight-threatening diseases.

“The acquisition is fully in line with Ratos strategy, where add-on acquisitions as part of growing existing companies in the group are an important part. We are proud of the successful development of TFS and look forward to a new year where TFS will play an important role in our increased commitment to professional services”, says Anders Slettengren, Chairman of the board of TFS and Executive Vice President, Ratos.

The strategic acquisition of Appletree will complement TFS HealthScience’s mission to be a market leader in ophthalmology research. The two companies will now offer complimentary and expanded service offerings to clients, including a specialized therapeutic focus in ophthalmology, significantly expanding the company’s global footprint.

“We are proud to partner with Appletree as we continue to provide our clients with in-depth, comprehensive knowledge and therapeutic expertise, particularly in the field of ophthalmology,” said CEO of TFS HealthScience, Bassem Saleh. “This acquisition is a clear indicator of the growth and success of TFS. The partnership with Appletree will have a measurable impact on better treatments for patients and company growth, establishing a new presence in Switzerland and additional presence in Poland, Belgium, Hungary, and the U.K.”

About TFS HealthScience

TFS HealthScience is a global Contract Research Organization (CRO) that supports biotechnology and pharmaceutical companies throughout their entire clinical development journey. In partnership with customers, they build solution-driven teams working for a healthier future. Bringing together nearly 800 professionals, TFS delivers tailored clinical research services in more than 40 countries.

About Appletree CI Group

Appletree CI Group is an expert niche CRO and global regulatory affairs service provider with track records in ophthalmology and medical device investigations. They are present in 11 European countries and have over 30 permanent staff. By having an in-depth understanding of local cultures and customs, as well as experience with national regulations they are able to facilitate your clinical development and regulatory projects.

For more information, please contact
Josefine Uppling, VP, Communication, Ratos, +46 76 114 54 21, josefine.uppling@ratos.com

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 30 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

Expands nitinol raw material and component manufacturing capabilities to address the industry’s growing need for technological advances in an array of therapeutic areas

Nashua, NH January 9, 2023 – Resonetics announced today that it has signed an agreement to acquire Memry Corporation and SAES Smart Materials, Inc. from SAES Getters S.p.A, Milan, Italy. Both acquired businesses are based in the United States with operations in Bethel, Connecticut, New Hartford, New York, and Menlo Park, California. Resonetics is backed by funds managed by global investment firm Carlyle and leading private equity firm GTCR. The transaction is valued at $900 million.

“The SAES Medical Nitinol business is a leading supplier to the medical device industry with a broad set of capabilities focused 100% on nitinol, a novel superelastic, shape-memory alloy that is enabling many technological advances in a growing array of therapeutic areas including structural heart, peripheral vascular, electrophysiology, neurovascular, and orthopaedics,” said Tom Burns, President and CEO of Resonetics. “Upon completion of the deal, Resonetics will have the supply and scale to better address the growing customer needs for nitinol material, components, and implants. We will continue to provide a high level of service to all our customers, including contract manufacturers who serve the medical device industry. We look forward to offering customers enhanced options and products as a result of this transaction, and to working with the 550 employees at SAES Medical Nitinol that will be joining our team once the acquisition closes.”

“We are excited to support the Resonetics management team as it executes on a high growth strategy to bolster its platform of differentiated capabilities to better serve customers,” said Robert Schmidt, a Managing Director specializing in healthcare at Carlyle. “We believe Resonetics and the SAES Medical Nitinol business are highly complementary to each other and this combination, in our view, will result in an even stronger service offering to large medical technology companies across the world.”

“GTCR is eager to invest this additional equity in Resonetics to support the company’s continued strong growth and believe the acquisition of the SAES Medical Nitinol business will strengthen Resonetics’ portfolio of unique products and services to the medical device community,” said Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR. “We look forward to partnering with the SAES Medical Nitinol team through our continued support of the Resonetics business.”

Resonetics currently operates nitinol centers of excellence in San Diego, California, and Or Akiva, Israel with a focus on laser cutting, braiding, shape setting, and electropolishing. In addition, Resonetics is a leader in centerless grinding of nitinol wire with operations in Blaine, Minnesota and Alajuela, Costa Rica. The Memry business will add extensive electric discharge machining (EDM) capabilities, as well as additional laser processing, centerless grinding, nitinol tubing, sheet, and wire fabrication. The SAES Smart Materials business creates the nitinol raw material from nickel and titanium raw material and converts it into various form factors.

The transaction is expected to close in 2023, subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of SAES Getters S.p.A. Board of Directors. Until the transaction closes, each company will continue to operate independently. Mediobanca S.p.A. acted as exclusive financial advisor to Resonetics.

About Resonetics
Founded in 1987, Resonetics is a pioneer in advanced engineering, product development, prototyping, and manufacturing solutions for the life sciences industry. Resonetics is a leader in laser processing, centerless grinding, nitinol processing, thin-wall stainless steel & precious metal tubing, photochemical machining, microfluidics, sensor solutions, and medical power. With strategically located AGILE Product Development centers and Lightspeed Labs, Resonetics is committed to quality, speed, innovation, and a great customer experience. The company is ISO 13485:2016 certified with 14 facilities and more than 2,000 associates in the United States, Canada, Costa Rica, Israel, and Switzerland. Resonetics is backed by leading private equity firms Carlyle and GTCR. Learn more at www.resonetics.com.

About Carlyle
Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $369 billion of assets under management as of September 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About GTCR
Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages over $26 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. GTCR has been an equity investor in Resonetics since 2018. For more information, please visit www.gtcr.com and follow the company on LinkedIn.

Contact
Justin Miller
Resonetics
jmiller@resonetics.com

Brittany Berliner
Carlyle
Brittany.Berliner@carlyle.com

Andrew Johnson
GTCR
Andrew.Johnson@gtcr.com

Care Fertility has today announced new partnerships with the US based Reach Fertility and Spanish based IVF-Life. These are the latest of several fertility clinic transactions by Care Fertility, a leading IVF group in the UK and one of the leaders globally in the treatment of infertility. 

Care Fertility, backed by private equity investor Nordic Capital, has a reputation for innovation, clinical excellence, a unique patient proposition and delivering strong success rates for all patients.

The partnerships with REACH Fertility and IVF-Life will enable Care to leverage its expertise, innovation and outstanding patient care across international markets. Despite the global economic challenges, the demand for fertility treatment remains strong. This is largely due to rising infertility cases and an increasing trend of delaying pregnancy for various reasons.

“Our Spanish partnership delivers an exciting opportunity for both Care Fertility and IVF-Life to give patients a seamless experience across borders, whilst the essence of the US partnership is the creation of key synergies and the opportunity to bring some of Care’s unique innovations to the US market”, explains David Burford, CEO of Care Fertility group.

Over the last twenty-five years, patients have travelled from around the world to access treatment at some of Care’s world-leading clinics in the UK. Care’s expansion to the US and Spain provides an important first step in delivering greater accessibility for international patients.

“Nordic Capital is delighted to support this exciting new stage in Care Fertility’s growth. We see it as an opportunity to access key new markets and leverage the underlying tools, platform and innovation that Care Fertility have created. We welcome IVF-Life and REACH Fertility to the Care Fertility Group”,  Alfa Chan, Partner, Nordic Capital Advisors.

For further information, please contact:

 Alison Weatherall, Marketing Director, Care Fertility Group

Alison.weatherall@carefertility.com

Mobile: +44 7530 290703

About:

Care Fertility

Care Fertility is an international fertility group, focused on innovation, clinical excellence and market leading patient proposition with strong success rates. Over the last 25 years, Care Fertility scientists and clinicians have driven many of the innovations in the field of IVF and their continuous clinical improvement is supported by and recognised through international collaborations and publications. Their current work on time-lapse imaging and artificial intelligence is shared internationally.

Inclusivity is at the core of Care’s culture, with a brand promise of Family is for everyone, they continue to build a culture where everyone belongs and empathy is shown for all groups. It is this blended coalescence of empathy and scientific excellence that makes Care different.

Care Fertility has links with various academic institutions and leads the field in training of specialist staff. They have established a Masters degree in clinical embryology in collaboration with Liverpool John Moore’s University.

Care Fertility sits as one of six international experts on the World Health Organisation’s focus group to specify standardised benchmarks and guidelines for AI within human reproduction and fertility systems.

Care Fertility is the largest independent provider of fertility treatments in the UK, with 23 clinics across the UK and Ireland.  www.carefertility.com

REACH Fertility 

The Reproductive Endocrinology Associates of Charlotte (REACH) has been a leader in assisted reproduction for over three decades. Located in North Carolina, REACH has achieved some of the highest pregnancy rates in the Southeast of the US.

The practice’s infertility specialists—Dr. Seth E. Katz, Dr. Joseph G. Whelan, III, Dr. Richard L. Wing, Dr. Jack L. Crain, Dr. Tyl Taylor, Dr. Jennifer Patrick, Taylor Holt, PA-C, Ann Morris Merline, PA-C, Grace Perez, PA-C and Daminica Mc Phillips, NP- BC have more than 130 years of combined experience, and are nationally recognized as leaders in the field.  www.northcarolinafertility.com

IVF-Life

IVF-Life Spain is a group of fertility clinics which specialise in complex cases. Their centres, located in Alicante, Madrid and San Sebastián, have the latest advances in Reproductive Medicine. They focus on constant innovation and a firm commitment to technology to maintain their position at the forefront of the assisted reproduction field. They have a strong international reputation and treat patients from around the world.  www.ivf-spain.com

Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested close to EUR 22 billion in 130 investments. The committed capital is principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

• SHL Medical is a pioneer in medical autoinjectors, which allow patients to safely self-administer medications at home while reducing the burden on healthcare systems

• EQT first partnered with SHL Medical in January 2020 through its EQT VIII fund. Having outperformed its business plan since, SHL Medical formulated an ambitious growth strategy until 2030, for which EQT Future, ATHOS and other co-investors will serve as partners

• The consortium will support SHL Medical in its next phase of growth, expanding its production footprint to the United States and Europe, while further strengthening the Company’s positive impact by increasing patient autonomy and through circularity and reusability initiatives

EQT Future, EQT’s new impact-driven longer-hold investment strategy, and ATHOS, alongside other co-investors (the “Consortium”), have today announced an investment in SHL Medical (“the Company”), a world-leading provider of drug delivery solutions. The Consortium will acquire a minority share of the Company from EQT’s Equity fund VIII, which will exit the Company. Roger Samuelsson, the Company’s founder, will remain the majority shareholder.

SHL Medical serves as a partner to global pharmaceutical and biotech companies in the development and production of medical autoinjectors. Autoinjectors are the preferred drug delivery solutions for highly complex biologic drugs and its biosimilar derivatives. The solutions allow patients to safely self-administer medication at home, especially for chronic diseases, which represent an increasing global health threat and require frequent treatments over long periods. Self-treatment increases patients’ quality of life while reducing the burden on healthcare systems. Headquartered in Switzerland, SHL Medical has a global presence with offices and operations in Europe, Asia, and the United States, employing more than 5,000 people worldwide.

Since the investment by EQT VIII in 2020, SHL Medical has significantly outperformed its business plan, having upgraded its manufacturing and commercial capabilities while focusing on digitalization. It has recently won several new long-term contracts, which will be a critical driver of the firm’s growth strategy through 2030. The Company is working on a range of new product launches while expanding its production footprint to the United States and Europe. EQT Future and ATHOS will support this journey while working closely with the SHL Medical management team to further strengthen the Company’s positive impact by increasing patient autonomy and through circularity and reusability initiatives.

Ulrich Faessler, CEO of SHL, commented: “Above all else, SHL Medical’s success has been predicated on an unresolving commitment to improving the lives of patients. We have a great partnership with EQT and are excited to work closely with EQT Future, ATHOS and the other co-investors to accelerate our global expansion and to develop new drug delivery solution offerings. Together, we will continue to build and grow the company to provide the best possible service to our customers and for patients around the globe.”

Andreas Aschenbrenner, Responsible Partner within EQT VIII’s Advisory Team, said: “The successes of the last three years have been a testament to Roger and his team. Ulrich together with his world class team have launched new product platforms with additional benefits for patients, automated the assembly process, accelerated geographical diversification, and with their innovations laid the foundation for SHL Medical to become a sustainability champion within its field. We believe that EQT Future, ATHOS and the other co-investors are the right partners to build on these achievements and strengthen SHL Medical’s long-term prospects.”

Rikke Kjær Nielsen, Partner within EQT Future’s Advisory Team, said: “EQT Future backs market leading businesses which improve our planet through the products and services they deliver, while having the potential to shape their industries. SHL Medical is all of this and more. Together with ATHOS, one of the leading global life sciences investors, and other co-investors, we are well positioned to support Ulrich and his team as they expand SHL Medical’s global production footprint and further strengthen the Company’s impact and sustainability strategy.”

Wolfgang Essler, General Manager at ATHOS, said: “We are proud to partner with a business as exceptional as SHL Medical. Being healthcare and life sciences investors at the very core of our DNA, we have the utmost respect for the entrepreneurial achievements of Roger Samuelsson and his team, who are pioneers in the area of medical self-injection devices for biologic drugs that increase the autonomy of patients. We look forward to collaborating with SHL Medical and EQT Future to explore the potential for patients to safely self-administer a new generation of drugs. This fits into the impact goals that we apply to our investment criteria.”

Contact

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Future will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 114 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About ATHOS
ATHOS KG is a Munich based single family office. ATHOS with its heritage in healthcare and life sciences invests in teams with exceptional science expertise and technology-driven companies with an entrepreneurial and value-based approach. 

About SHL Medical
SHL Medical designs, develops and manufactures advanced drug delivery devices, such as autoinjectors, pen injectors and advanced inhaler systems, and provides final assembly, labeling, and packaging services for pharma and biotech companies worldwide. Headquartered in Switzerland with locations in Taiwan, Sweden, and the US, SHL Medical employs more than 5,000 employees worldwide.

More info: www.shl-medical.com