Biocoat Holdings, a Horsham, Pennsylvania-based provider of medical coatings products and services for medical devices, received an investment from GTCR.
The amount of the deal was not disclosed. Existing Biocoat management and 1315 Capital, the selling equity sponsor, will retain minority stakes in the company. GTCR will again partner with industry veteran Chip Hance, the current Chairman of GTCR portfolio company Regatta Medical Holdings, LLC (d/b/a “Resonetics”), who will join Biocoat as Executive Chairman. Going forward, the existing Biocoat management team will continue in their existing roles executing on the company’s growth initiatives in partnership with GTCR.
The company intends to use the funds to support growth and expansion.
Founded in 1991 and led by CEO Jim Moran, Biocoat is a medical device contract manufacturing organization (“CMO”), specializing in custom, biocompatible hydrophilic coatings for interventional medical devices. The company’s capabilities include developing and supplying customized coatings formulations, performing coatings application services, and offering coatings equipment solutions. Over the past 31 years, the company has developed a diverse base of both blue-chip and emerging medical device customers, a team of engineers and scientists, and manufacturing and R&D facilities. This platform enables Biocoat to work with its customers across a wide range of interventional products and medical device segments, including neurovascular, ophthalmology, cardiovascular and other interventional specialties.
FinSMEs
07/11/2022