IZI Medical Products, a major interventional radiology medical device company and portfolio company of Shore Capital Partners, has acquired select soft tissue biopsy and breast localization needle assets from Cook Medical.
The acquired portfolio of products are commercially marketed under the highly regarded Quick-Core® Biopsy Needle, MReye breast localization coil, and the Kopans and X-Reidy Lesion Localization Needles.
IZI Medical CEO Greg Groenke said: “This represents IZI’s third add-on acquisition in the last 18 months and significantly adds to our world-class portfolio of minimally invasive diagnostic and therapeutic products for the interventional radiology market.
“Cook has done a wonderful job over the last several decades establishing these products as leading brands in their space. We are excited to increase the market penetration of these products through significant investment in domestic and international selling resources, select product enhancements, and new product development. These products are complementary to the line of Osteo-Site® needles that IZI acquired from Cook in 2017.”
Cook Medical vascular division vice president Mark Breedlove said: “IZI is strategically focused in diagnostic and therapeutic areas with imaging modalities, which will allow them to have a closer relationship with the diagnostic and interventional physicians that are performing the procedures.
“We were looking for a company that could invest more resources and continue to support these product families, the patients that benefit from them, and the physicians that use them.
“We have worked with IZI in the past and determined that they would be the ideal partner moving forward, and we are pleased to support the transition as IZI prepares to manufacture these products. This agreement will benefit patients, customers, and hospitals alike.”
IZI board chairman and Shore Capital partner Don Pierce said: “This acquisition continues to expand the breadth of products offered by IZI and is consistent with the strategy we developed when we partnered with Greg Groenke and the management team at IZI less than three years ago.
“We are building a leading platform to serve the interventional radiology and oncology markets with quality diagnostic and therapeutic medical devices. These product families will further extend IZI’s international sales reach and increase the depth of its portfolio.”
As a leading innovator, manufacturer, and distributor of quality medical devices, IZI Medical provides the continuity that our healthcare partners need to succeed.
Based in Owings Mills, Maryland, just outside Baltimore, IZI is a leading developer, manufacturer, and provider of high-quality medical consumable devices used in interventional radiology and oncology, radiation therapy, neuro-spine, and image guided surgery procedures.
IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries.
Source: Company Press Release