Surgical Specialties is engaged in the production of surgical sutures and ophthalmic knives
GTCR has completed the acquisition of medical devices manufacturer Surgical Specialties. (Credit: Adam Radosavljevic from Pixabay)
GTCR portfolio company Corza Health has completed the acquisition of US-based medical technology firm Surgical Specialties from a consortium led by ZQ Capital and Vivo Capital.
The consortium, including co-investors Aretex Capital Partners, China Orient Asset Management (International) Holding, Fung Shing Investments, FS KKR Capital, Cathay Venture and Nan Fung Group, acquired Surgical Specialties in 2017.
Based in Westwood of Massachusetts, Surgical Specialties has expertise in the manufacturing of surgical sutures and ophthalmic knives.
Since 2017, Surgical Specialties acquired three companies and sold one product line to Angiodynamics. The company has also constructed two factories in the US and China.
Surgical Specialties merges with TachoSil
Corza Health has merged Surgical Specialties with the TachoSil Fibrin Sealant Patch to establish a new company called Corza Medical.
TachoSil, earlier owned by Takeda Pharmaceutical, is a surgical patch product line that facilitates safe and fast bleeding control during surgeries.
Corza Medical will provide a platform of surgical technologies, including brands such as Quill barbed sutures, Sharpoint Plus and Look surgical sutures, Sharpoint ophthalmic knives, and the TachoSil Fibrin Sealant Patch.
With a global team of more than 1,700 employees, the new company will be managed by executive chairman Gregory Lucier and CEO Dan Croteau.
To be headquartered in Westwood, Massachusetts, Corza Medical will operate in 13 countries throughout North America, Europe, and Asia, with manufacturing facilities in the US, Mexico, England, Germany, and China.
GTCR managing director Dean Mihas said: “The formation of Corza Medical is another example of the firm’s Leaders Strategy in action.
“Our management partnership with Greg allowed us to evaluate and execute this transformational merger. We look forward to supporting Greg, Dan and the company through organic growth initiatives, accretive acquisitions and new product introductions and innovations.”
In October 2018, GTCR acquired Medelec and STI Laser Industries to transform Resonetics into global platform.