Devicor Medical Products, a GTCR portfolio company, has acquired Ethicon-Endo Surgery's (EES) Breast Care Business.
Ethicon’s Breast Care business sells products designed to help physicians diagnose breast cancer at early stages while minimising patient discomfort. The business will formally be known as Mammotome, a Devicor Medical Products company.
As part of the agreement, Devicor also acquired marketing and distribution rights for Neoprobe Gamma Detection Systems.
The EES Breast Care product portfolio is sold in 50 countries around the world and includes the Mammotome Breast Biopsy system and tissue markers (MammoMark, MicroMark, and CoreMark) used for breast disease diagnostic sampling and management.
Devicor is a management partnership formed between GTCR and Tom Daulton, a former senior executive at Cardinal Health and previous member of its Global Leadership Team. Daulton will serve as chief executive officer of Devicor and Mammotome.
Dean Mihas, principal of GTCR, said: “The acquisition of the Breast Care business is the first step in achieving our objective of building a global medical device business.
“Given Tom Daulton’s growing medical device businesses, we’re delighted to be a partner in this acquisition and are looking forward to providing the resources to further strengthen Mammotome’s market-leading position through organic growth and strategic expansion.”
Mr Daulton said: “I look forward to deepening Devicor’s partnership with GTCR through the Breast Care business acquisition. GTCR’s significant healthcare expertise, commitment to the medical device industry will help us achieve our vision of building a leading medical device business focused on minimally invasive procedures. Today, we are excited to begin the work of further developing the Mammotome brand globally.”
Chicago-based GTCR is a private equity firm focused on investing in growth companies in the financial services & technology, healthcare and information services & technology industries.