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Search jobs 01-Feb-2021 Vivo Capital and an Investor Syndicate Completes Sale of Surgical Specialties Corporation to GTCR-backed Corza Health
PALO ALTO, Calif. (BUSINESS WIRE) Vivo Capital, a global healthcare investment firm, announced today that it has closed the sale of Surgical Specialties Corporation (“SSC”) to Corza Health, a portfolio company of GTCR, a global private equity firm.
Vivo Capital and an investor syndicate including certain Vivo limited partner co-investors acquired SSC, a global manufacturer and leader in the medical device consumables segment, in 2017. Since then, SSC has acquired three companies, divested one product line to Angiodynamics, and built two factories in the US and China while reinvigorating the company’s iconic brands, including Quill™ and Sharpoint™.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
GTCR and Gregory T. Lucier Announce Merger of Surgical Specialties and TachoSil to Create Corza Medical
February 1, 2021 GMT
CHICAGO and WESTWOOD, Mass., Feb. 1, 2021 /PRNewswire/ GTCR, a leading private equity firm, announced today that its management partnership with Gregory T. Lucier, Corza Health, has simultaneously acquired and merged Surgical Specialties Corporation (“Surgical Specialties”) and the TachoSil® Fibrin Sealant Patch (“TachoSil”) to create a new company, Corza Medical. Surgical Specialties is a medical technology company focused on high-performance surgical sutures and ophthalmic knives. TachoSil, previously owned by Takeda Pharmaceutical Company Limited, is a differentiated surgical patch product line used to enable safe and fast bleeding control during surgeries.
GTCR and Gregory Lucier Form Corza Medical
Private equity firm
Surgical Specialties Corp. and the
TachoSil Fibrin Sealant Patch to create a new company called
Corza Medical.
Surgical Specialties is a medical technology company focused on surgical sutures and ophthalmic knives. TachoSil, previously owned by
Takeda Pharmaceutical Co. Ltd., is a surgical patch product line used to enable bleeding control during surgeries.
The company will be led by executive chairman Gregory Lucier and CEO
Dan Croteau, with a global team of over 1,700 employees supporting clinicians, distributors and medical device companies. Corza Medical will provide healthcare professionals a platform of surgical technologies with brands including
Charlesbank Buys Stake in MB2 Dental from Sentinel
Charlesbank Capital Partners, a middle-market private investment firm, announced that an affiliated fund has made a significant growth investment in
MB2 Dental, acquiring a majority interest from funds affiliated with
Sentinel Capital Partners and management.
Founded in 2007, MB2 Dental is a dental partnership organization with affiliated practices across 24 states. The remaining stake in MB2 is held by CEO and founder,
Dr. Chris Steven Villanueva, management and its doctor owners, who reinvested a substantial percentage of their equity.
Brandon White, managing director at Charlesbank, says, “We see significant M&A opportunity in the fragmented dental services market, and we believe that our investment will enable MB2 to accelerate its proven acquisition strategy as well as continue to develop its suite of shared services to support value creation.”