The deal is expected to complete during the third quarter of this year.

Based in Waltham of Massachusetts, BVI is engaged in the development, manufacturing and selling of surgical devices for the ophthalmic market.

BVI was established in 2010 by integrating three separate ophthalmic product businesses from Becton Dickinson, Medtronic, and Aspen Surgical.

The company operates two manufacturing facilities in Waltham of US and Bidford of UK.

BVI markets brands, including Beaver blades, Visitec cannulae and instruments, Merocel and Weck-Cel ophthalmic fluid management products, and Wet-Field Eraser electrosurgery products.

The products can be used in different ophthalmic surgeries, comprising of cataract, refractive, oculoplastic, and vitreoretinal sub-specialty procedures.

TPG partner Jeffrey Rhodes said: “We've worked with a wide variety of companies, from blood transfusion therapies business Fenwal to drug maker Par Pharmaceutical, to discover and invest in new opportunities."

BVI CEO Tom Kapfer said: "RoundTable was invaluable in helping us execute on the vision of combining separate ophthalmic businesses into a well-run, global organization.”

“Their support and resources have helped us accelerate organic growth initiatives and complete strategic acquisitions.”

TPG said that it invested around $8bn in the healthcare portfolio across the platform, since 2007.

The company invested in pharmaceutical firms such as IMS, Quintiles and EnvisionRX, blood transfusion therapy and diagnostics manufacturers such as Fenwal and Immucor, as well as orthopedic device company Biomet and others.

Image: TPG's San Francisco offices at 345 California Street.  Photo: courtesy of Daniel Schwen.