New Group Has $250 Million for Medical Acquisitions

Devicor Medical Products, LLC (Pleasant Prairie, WI, USA), a global medical device company, announced that it is actively seeking its first acquisition as it starts to build a market-leading medical device company in the healthcare industry.

"With our strong, available capital we are actively pursuing a strategic acquisition to serve as Devicor's platform,” stated Tom Daulton, the former Cardinal Health (Dublin, OH, USA) executive recently chosen to head the company. Devicor was created in partnership with GTCR Golder Rauner, LLC (GTCR; Chicago, IL, USA), one of the U.S.'s leading private equity firms, which initially committed US$250 million of equity capital to support Devicor's growth strategy. GTCR currently manages more than $8 billion of equity capital invested in a wide range of companies and industries.

Mr. Daulton anticipates growing Devicor into an industry-leading medical device company through a combination of capital investment, ongoing R&D investment, organic growth, and acquisitions. Devicor is currently looking to acquire established interventional medical device businesses that manufacture and sell products to clinicians in settings such as hospitals, surgery centers, or ambulatory clinics. Initial acquisitions are expected to provide infrastructure and personnel in key areas such as manufacturing, R&D, engineering, sales and marketing, finance, and human resources.

"First and foremost, Devicor is a medical device company,” stated Mr. Daulton. "The financial side of our business is critically important, and we're enthusiastic about the number of compelling investment opportunities we see in the market. But, at the end of the day, we're looking to advance the medical device industry and improve patient outcomes by building on something that works.”

Related Links:
Devicor Medical Products
GTCR Golder Rauner