FUTURE OF HEALTHCARE
Laborie Medical Technologies | April 21, 2022
Leading diagnostic and therapeutic medical technology company, Laborie Medical Technologies Corp. announced that it has completed the acquisition of GI Supply, a leader in specialty endoscopy and paracentesis products for gastroenterologists, colorectal surgeons, and interventional radiologists.
As part of the transaction, GI Supply and all its employees will be fully integrated into the Laborie business. "We've had the opportunity to work closely with the GI Supply team for two years and are delighted to welcome them into the Laborie family," said Michael Frazzette, President & CEO of Laborie Medical Technologies. "We look forward to working together in our mission to deliver innovative technologies that help preserve and restore human dignity. Gastroenterology will continue to be a core segment for Laborie and legacy GI Supply will lead our effort."
In 2020, Laborie and Signet Healthcare Partners, a healthcare growth equity firm, signed an agreement to acquire GI Supply. The combined GI Supply and Laborie product portfolio and commercial capabilities enabled the organizations to reach a larger customer base and offer healthcare practitioners a broad portfolio of innovative gastroenterology products.
"We are delighted with the growth and progress of GI Supply over the past several years. We thank Patricia Industries and Laborie for their partnership in helping to develop this business. The future is very bright for GI Supply as part of Laborie."
Ashley Friedman, Managing Director at Signet Healthcare Partners
Yuriy Prilutskiy, Head of North America at Patricia Industries, a part of Investor AB and majority owner of Laborie Medical Technologies added, "Patricia Industries is excited to continue investing in Laborie's long-term growth with this acquisition. We continue to support Laborie in its mission to provide patients and healthcare professionals with innovative and effective therapeutic and diagnostic technologies that preserve and restore human dignity."
About Laborie Medical Technologies
Headquartered in Portsmouth, New Hampshire, Laborie is a global medical technology company focused on Urology, Urogynecology, Gastroenterology, Obstetrics, Gynecology & Neonatal Health. We manufacture and deliver high-quality, high-impact diagnostic and therapeutic products that help clinicians and hospitals preserve and restore patient dignity. Clinicians and hospitals look to us as the market-leading experts in our business segments, and we support our products with a world-class Clinical Education & Information program. Laborie is a portfolio company of Patricia Industries.
About GI Supply
As a physician-founded company, we strive for deep clinical input into all that we do. GI Supply is broadening its portfolio with solutions that allow physicians to perform more-advanced procedures safely and efficiently. We help doctors do their jobs faster, safer and simpler.
About Patricia Industries
Patricia Industries, a part of Investor AB, invests in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. We invest with an indefinite holding period and partner with great management teams to create value for people and society by building strong and sustainable businesses.
About Investor AB
Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through our board participation, industrial experience, global network and financial strength, we work continuously to support our companies to remain or become best-in-class.
About Signet Healthcare Partners
Signet Healthcare Partners is an established provider of growth capital to innovative healthcare companies. Signet invests in commercial-stage healthcare companies that are revenue generating or preparing for commercial launch. The firm invests primarily in pharmaceutical and medical device companies. As an active investor, Signet partners closely with its companies to build their value including facilitating activities between portfolio companies. During Signet's 24-year history, the firm has developed a strong reputation and track record of successful healthcare investments. Signet has raised funds with total capital commitments of over $500 million and has invested in more than 55 companies.
FUTURE OF HEALTHCARE
BD (Becton, Dickinson and Company) | April 23, 2022
BD a leading global medical technology company, announced the formation of the Sustainable Medical Technology Institute, a model of practice within the organization that will bring together BD researchers and engineers, as well as quality, regulatory, policy and operational expertise, to focus on reducing the environmental impact of the company's product portfolio in three areas, including adopting sustainable product design strategies, developing and deploying sustainable sterilization technologies, and addressing materials of concern.
The Institute will serve as an example of how the company continues to advance the world of health by prioritizing high-quality, safe products for patients, while furthering its environmental, social and governance strategy.
"As part of our ESG strategy, we made commitments in specific areas where we see the most opportunity for BD to create meaningful, measurable change over the next decade. In order to achieve these commitments, we established a set of goals to track and measure our success, and this includes how to reduce the environmental impact of our product portfolio and address our customers' sustainability needs. These priorities led us to form the Sustainable Medical Technology Institute."
Maureen Mazurek, vice president, sustainability and environmental health and safety at BD
Dr. Amit Limaye, director of the Sustainable Medical Technology Institute and director of sustainability research and development at BD, added, "By empowering our teams to tap into deep expertise in areas like engineering and materials science, coupled with access to breakthrough research, technologies, and government and academic partnerships, we are well-positioned to be the best environmental stewards of our portfolio. It is our vision to create a strategic roadmap that will be integral across the organization, demonstrating how an ethical and sustainable company can drive growth, while meeting patient and customer needs in the most environmentally sustainable way possible."
The Institute will operate in North America, Europe and Asia, and will collaborate with cross-functional teams within the company's business units, inclusive of research and development, regulatory, quality, policy and operations roles, with the goal of ensuring accountability and a streamlined approach to sustainability efforts, as well as further address sustainability needs within the industry and global regulatory bodies. Key initial efforts include reestablishing a set of minimum environmental and human health criteria for new products and product changes aligned with the company's 2030+ ESG commitments and goals, and identifying new ways to reduce, reuse, recycle or replace materials. These efforts will inform the company's product life cycle roadmap and enable adoption of a sustainable-by-design product development process.
is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 75,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care.
FUTURE OF HEALTHCARE
GTCR | April 22, 2022
GTCR, a leading private equity firm, announced that it has entered into a Leaders Strategy™ partnership with Kelly McCrann to form Avryo Health Services, LLC. Based in San Diego, CA, Avryo Healthcare will seek to acquire companies and assets in the multi-site healthcare services industry as part of a strategy to build a market-leading company, with a focus on utilizing new technologies and operating strategies to enhance patient access and experiences.
GTCR, the firm that pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth - will invest in Avryo Healthcare from its Strategic Growth Fund, a private equity fund with $2.0 billion of limited partner capital commitments. Mr. McCrann is serving as Executive Chairman of Avryo Healthcare and will make a substantial investment alongside GTCR.
Mr. McCrann has over 30 years of experience in the healthcare services industry. Prior to partnering with GTCR, Mr. McCrann most recently served as Chief Executive Officer of EyeCare Partners, the largest vertically-integrated medical vision services provider in the US. He became CEO of EyeCare Partners in 2016 and significantly grew the company via acquisition and organic growth into the largest business in the industry before completing a successful sale of the company in 2019. Prior to leading EyeCare Partners, Mr. McCrann spent more than 25 years in senior leadership roles across healthcare provider services and payor businesses, including within dental, behavioral health, ambulatory infusion and kidney dialysis.
"We are excited to partner with Kelly to build a leading company in the healthcare services industry," said Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR. "Kelly has an exceptional track record in the multi-site healthcare services space with experience across specialties, including dental and behavioral health, and a history of driving organic, de novo and M&A growth. Kelly's background, industry expertise and strategic vision make him an ideal partner as GTCR commits to build a platform in this attractive industry."
"I am thrilled to partner with GTCR to build Avryo Healthcare into a market-leading company in the multi-site healthcare services space. GTCR has deep domain expertise in healthcare, a substantial track record of creatively building platforms in this space, and a long history of backing experienced CEOs and Executive Chairs. With our partnership, Avryo Healthcare is well-positioned to create a compelling platform in healthcare provider services."
"GTCR's formation of Avryo Healthcare with Kelly is another excellent example of The Leaders Strategy™ and builds on our history of successful investments in multi-site healthcare services and the broader healthcare industry," added John Kos, Managing Director at GTCR. "We are excited to create this multi-site healthcare services platform behind Kelly and are actively looking for companies and assets in the sector, including founder-led and sponsor-backed companies."
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications industries. The Chicago-based firm pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com. Follow us on LinkedIn.
About Avryo Healthcare
Avryo Healthcare was formed in April 2022 as a partnership between Kelly McCrann and GTCR. Avryo Healthcare's mission is to build a leading company in the multi-site healthcare provider services industry with a focus on building a company that utilizes new technologies and operating strategies to enhance patient access and experiences. For more information about Avryo Healthcare, please contact (212) 835-7042.
FUTURE OF HEALTHCARE
GeneQuantum Healthcare | April 19, 2022
GeneQuantum Healthcare Co., Ltd., a company specializing in site-specific bioconjugation for next generation biotherapeutics, has signed an agreement with a Korean biotech company, Aimed Bio Inc., to co-develop a First-in-Class therapeutic antibody drug conjugate (ADC). Aimed Bio, a spin-off company from Samsung Medical Center, is focusing on developing innovative antibody-centric drugs for brain diseases with few treatment options. Additional details were not disclosed.
GeneQuantum focuses on next generation Antibody Drug Conjugate development. Taking advantage of the proprietary 'Ligase Dependent Conjugation' technology platform, which allows a site-specific conjugation of cytotoxins or other type of payloads to antibodies, the company has successfully developed a robust pipeline with more than 10 assets, with several at or approaching clinical stage. In addition to expanding the unique technology platform, the company has entered into a number of partnerships with domestic biotech/pharmaceutical companies and international partners. The growing number of partnerships speaks to the power of the GeneQuantum platform technology for not only improving key therapeutic characteristics of existing molecules, but also for creating new classes of molecules, ultimately increasing the number of available treatment options for patients worldwide. GeneQuantum is excited about the significant potential of partnerships with business partners and will continue to expand its deal pipeline in the antibody drug conjugate and protein therapeutic market.
The collaborating ADC is a first-in-class asset with highly differentiated antibody against a unique target, a stable linker design and a novel payload with a strong by-stander killing effect. The resulting ADC is expected to treat brain and other cancers with huge unmet needs.
"As an innovative antibody+ company, we look for complementary partners to maximize value of our platform technology. Aimed Bio not only has differentiated antibody acting on a unique target but also has deep knowledge and expertise in the field of brain tumor & CNS diseases. This collaboration is based on an excellent match between the two companies to generate a FIC ADC. Through close partnership, we are thrilled to bring revolutionary therapy for those patients without efficient treatment at this moment."
Dr. Gang Qin, the Founder & Chairman, CEO of GeneQuantum
Dr. Dohyun Nam, the Founder & Chairman, CTO of Aimed Bio and internationally renowned neurosurgeon with 32 years of experience in brain tumor & CNS diseases commented: "Aimed Bio has been successfully expanding its R&D pipeline for the past 2 years, and I am pleased to start this collaboration with GeneQuantum. After evaluating the data, the linker-payload and conjugation technology GeneQuantum provides proved to be very safe and effective. With the best antibody and brain tumor expertise of Aimed Bio, I believe the collaborating ADC will bring a tremendous impact on the field. We look forward to initiating clinical trial as soon as possible."
About GeneQuantum Healthcare Co., Ltd.
GeneQuantum Healthcare Co., Ltd. is a high-tech biopharmaceutical company dedicated to the development of innovative biotherapeutics. The company is focused on the development of a next generation of bioconjugate therapeutics to meet the unmet medical needs of cancer patients globally. For more information, visit www.genequantum.com.
About AIMEDBIO Inc.
AIMEDBIO is a spin-off company from Samsung Medical Center established in August 2018. AIMEDBIO aims to provide therapeutic solutions to patients with serious brain diseases, including neuro-oncological and -degenerative diseases, to save patients' lives and improve patients' quality of life. Based on solid global networks with key opinion leaders in the field, an excellent research team with profound achievements, and R&D pipelines with an outstanding drug development platform, AIMEDBIO is an emerging leader for development of innovative therapeutics against diverse brain diseases.