LipoCoat Holdings (“LipoCoat”), a portfolio company from 819 Capital Partners, strategically acquired Sono-Coat. The deal is backed by a growth investment directly into Sono-Coat BV (“Sono-Coat”) led by 819 Capital Partners (“819”) from their 819 Evergreen Fund.

Sono-Coat has developed patented echogenic coating solutions that offer unsurpassed ultrasound visibility for medical devices, enabling novel ultrasound guided therapies.

Strategic acquisition with strong synergy potential

The strategic acquisition of the Sono-Coat technology marks a significant extension of LipoCoat’s mission to improve the comfort, safety, and performance of medical devices through innovative coating solutions, to address the evolving needs of researchers, clinicians, and patients worldwide.

“We are thrilled to welcome Sono-Coat to the LipoCoat family” said Jasper van Weerd, CEO LipoCoat Holdings. “Their innovative echogenic coating technology complements our existing technologies and aligns perfectly with our commitment to delivering superior solutions that improve patient outcomes. Together, we will accelerate the pace of innovation in the biomedical field and create value for our customers and partners.”

For 819, leading the growth investment makes sense, as Sono-Coat offers an attractive value proposition with potential synergy with portfolio company LipoCoat. Wim Smit, managing partner at 819: “Sono-Coat has developed a strong solution to enhance visibility of needles and catheters, thereby making work of doctors easier. We see, besides a stand-alone success, several benefits in the combination with LipoCoat: both cross-selling opportunities and the development of a combined product.”

Beneficial collaboration for all parties involved

Lee Ayres, CTO and inventor of Sono-Coat is excited to join the LipoCoat Group. “Together with LipoCoat, we can leverage our collective expertise to drive innovation and bring transformative solutions to market faster. This union represents a win-win for our customers, who will benefit from a broader range of high-quality products and services. The Sono-Coat technology can be applied to a wide range of devices, in diverse fields such as interventional radiology, ablation, regional anesthesia, central lines and structural heart.”

With the acquisition of Sono-Coat, LipoCoat extends the commitment to advancing healthcare through innovation. By harnessing the synergies between LipoCoat and Sono-Coat, the group further strengthens its position as a preferred partner for researchers and industry stakeholders seeking cutting-edge solutions to address complex biomedical challenges.

Spineart has successfully raised a CHF20 million convertible financing. The funding comes on the heels of the completion of enrollment in the two BAGUERA® C IDE studies, underlining Spineart’s commitment to advancing spinal surgery through large scale investments in research and development. More than CHF15 million of the funding was contributed by existing shareholders and employees, with the remaining portion sourced from new investors, above its CHF20 million initial target.

“We are thrilled to announce the successful closure of our CHF20 million convertible financing round, which underscores the confidence and support of our investors in Spineart’s vision and innovative technologies,” said Jerome Trividic, CEO of Spineart. “The overwhelming participation from existing shareholders, as well as the addition of new investors, is a testament to the potential of our BAGUERA® C cervical disc prosthesis and our commitment to improve spinal surgery through enabling technologies and robotic navigation.”

The proceeds from the financing round will be used for several strategic initiatives. These include investments in novel enabling technologies, continued follow-up of patients enrolled in the two BAGUERA® C IDE studies, completion by the end of 2024 of a new 43,000sqft / 4,300 m2 factory currently under construction near Geneva and the opening this summer of Spineart’s new R&D and Training Center for Enabling Technologies in Dallas, Texas.

About the BAGUERA® C IDE studies:

The BAGUERA® C IDE studies are pivotal in evaluating the safety and efficacy of Spineart’s innovative BAGUERA® C cervical disc prosthesis, designed to address degenerative cervical disc disorders. The completion of enrollment in these studies marks a crucial step forward in bringing this new technology to market in the United States.

London, UK – Global investment firm Carlyle (NASDAQ: CG) today announced that it has co-led a consortium of investors to provide a financing solution of €1.1 billion to support the future growth of Ottobock (the “Company”), the global market leader in prosthetics. The financing will also support existing majority shareholder Professor Hans Georg Näder and the Näder Family’s buy back of EQT’s 20% shareholding in the business.

Headquartered in Duderstadt, Germany, with origins dating back more than 100 years, Ottobock is widely recognised for its innovative and market leading solutions in the fields of prosthetics and orthotics, dedicated to helping customers globally to strengthen their independence and maintain their quality of life. Ottobock, which has remained family-owned since inception, has more than 400 of its own patient care centres worldwide, providing a diverse range of high tech and customizable devices designed to help amputees’ mobility. The Company has sat at the forefront of industry innovation, evidenced by the introduction of the first micro-processor enabled knee as early as 1997. It has maintained its global market leadership position through a continuous focus on innovation and R&D, delivering cutting edge products in 135 countries. The Company currently employs more than 9,000 employees worldwide.

Carlyle Global Credit manages $188 billion in assets under management, as of December 31, 2023. It regularly pursues investments in privately negotiated capital solutions for both private equity sponsored and family or entrepreneur-owned companies.

Taj Sidhu, Head of European and Asian Private Credit, said: “We are delighted to partner with the Näder family and the outstanding Ottobock management team. This transaction sits at the core of our strategy of providing flexible capital solutions to family-owned businesses that are leaders in their field. Ottobock has been a pioneer and champion for innovation in prosthetics and orthotics and we look forward to partnering with such an inspiring business on the next stage of its growth journey for the benefit of patients worldwide.”
Professor Hans Georg Näder said: “My family and I are delighted to have been able to agree this financing with such a high-quality group of lenders. My team and I very much look forward to working with Carlyle and the group over the coming years and I am confident that with their support Ottobock’s future growth is assured.”
About Carlyle
Carlyle (NASDAQ: CG) 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 $426 billion of assets under management as of December 31, 2023, 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 2,200 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

Media contacts:
For Carlyle: 

Charlie Bristow
charlie.bristow@carlyle.com
+44 7384 513568

819 Capital Partners (819) has acquired Direct Diagnostics from Sanquin Health Solutions (SHS). The acquisition is accompanied by an additional growth investment from 819.

Direct Diagnostics (www.directdiagnostics.nl) utilizes advanced technology to provide actionable recommendations and personalized healthcare solutions. The mission is to empower individuals to make informed decisions about their health, leading to a higher quality of life via preventative diagnostic tests. Direct Diagnostics aims to transform the healthcare system from disease control to disease prevention.

Acquisition addressing the growing interest in preventive diagnostics

With the acquisition, 819 is tapping into the growing interest in home diagnostics among consumers and companies. This trend is driven by high healthcare demand and constrained healthcare supply. Direct Diagnostics is a strong player in this regard, partly due to its wide range of tests, reliability, and ease of use.

Sven Kempers, managing partner at 819: “Sanquin, along with the Direct Diagnostics team, has built a great company with a strong focus on quality. With us, Direct Diagnostics enters a new phase, including internationalization.”

Rogier van den Braak, managing director of Sanquin Health Solutions (SHS), explains that SHS is selling the company to enable further growth: “For SHS, the sale of Direct Diagnostics is logical because the company was ready for the next step. With its entrepreneurship and experience, 819 can realize further expansion.”

Elsemieke Hackenitz, CEO of Direct Diagnostics, confirms Direct Diagnostics’ strong position in the market and sees many opportunities through the acquisition: “I am proud of the team and look forward to the growth and development Direct Diagnostics will undergo in the coming period.”

Increasing consumer demand and regulatory requirements

Direct Diagnostics’ comprehensive proposition provides immediate value to its users. Preventive diagnostics empower consumers to take more control over their health, to improve, protect, or maintain it.

Sven Kempers: “Direct Diagnostics brings a lot of value to customers, including through the product design and usability. Additionally, the product is developed under Sanquin’s high-quality standards, ensuring high reliability in test results.”

Earlier this week, the Dutch Healthcare Authority (NZa) concluded that the four major health insurers are not doing enough to grant customers access to healthcare. Insured individuals have a (legal) right to timely, accessible, and high-quality care. Direct Diagnostics aims to contribute to better and accessible healthcare, particularly in primary care.

The shortage of general practitioners is also increasing, leading to waiting times and travel distances for appointments. Direct Diagnostics can support with its extensive range of tests; self-examination allows patients with abnormal values to be seen more quickly by the GP, enabling more targeted follow-up investigations. This is a win-win for our healthcare system.

Investment for further growth

Direct Diagnostics will use 819’s growth investment to further expand the company, including (international) B2C and B2B markets. 819 invests in Direct Diagnostics through its 819 Evergreen Fund I.

Eurazeo Small-mid buyout strategy and the management of Peters Surgical announce that they have signed an agreement to sell all the share capital of Peters Surgical to Advanced Medical Solutions Group plc (AIM: AMS), a world-leading specialist in tissue-healing technologies listed in the London Stock Exchange.

Eurazeo has been supporting Peters Surgical, a leading global provider of specialty surgical sutures, mechanical haemostasis and internal cyanoacrylate devices, as a majority shareholder, since 2013. Over the past years, Eurazeo has enabled the company to expand its presence in the operating room by developing organically and by acquiring new product ranges, such as haemostatic clips or surgical glue. Thanks to numerous acquisitions, Peters Surgical has also increased its shares of direct-selling capabilities, and expanded its geographical presence in the United States, in Asia and in key European countries (Germany, Poland, among others).

The transaction will allow Peters Surgical to benefit from significant complementarities with Advanced Medical Solutions Group plc in terms of portfolio of surgical products, of sales capabilities and commercial footprint in key territories as well as distribution networks.

The transaction remains subject to approval of French authorities for foreign direct investment control. The sale of Peters Surgical would allow funds managed by Eurazeo, to receive estimated proceeds of €66m (of which c. €46m for Eurazeo’s Balance Sheet) upon closing. These proceeds are subject to adjustments based on completion accounts and earn-outs which could be triggered and paid in 2024 and 2025.