RoundTable Healthcare Partners Completes Portfolio Company Add-On Acquisition
Acquisition to Broaden the Product Line of Beaver-Visitec International, Inc.
LAKE FOREST, IL, April 5, 2013 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that its portfolio company, Beaver-Visitec International, Inc. (“BVI”), a global leader of high-quality and world renowned brands for ophthalmic and specialty microsurgical procedures, has completed the acquisition of the ophthalmic assets from Odyssey Medical, Inc. (“Odyssey”), a leader in dry eye solutions. The financial terms of the transaction and RoundTable’s investment were not disclosed.
“Odyssey is a complementary and strategic acquisition for BVI,” said Joe Damico, a Founding Partner and Co-Chairman of RoundTable and Chairman of the Board of BVI. “Odyssey’s dry-eye solutions expands BVI’s existing breadth of products and reinforces BVI’s focus on offering the highest-quality products to its customers.”
“We are excited to bring Odyssey to our customers as a part of the Beaver-Visitec family,” added Tom Kapfer, Chief Executive Officer of BVI. “We are committed to providing high-quality single use products with the performance and precision clinicians expect. For over 80 years, BVI has been known to offer a portfolio of premium brands, all with a longstanding tradition of precision, innovation and quality. Odyssey is a perfect fit with our goal to continually expand our offerings with products that meet or exceed our customers’ standards.”
As part of the transaction, RoundTable successfully facilitated an amendment to BVI’s senior credit facility, which was led by GE Capital with Bank of Ireland and PNC Bank participating in the credit. BVI was represented by its legal counsel, Sidley Austin LLP, in the transaction.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling $400 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.
About Beaver-Visitec International
Based in Waltham, Massachusetts, USA, Beaver-Visitec International is a global manufacturer, developer and marketer of ophthalmic and other specialty microsurgical products, They offer products and services for all aspects of Ophthalmic Surgery, including Cataract, Refractive, Oculoplastic, and Vitreoretinal sub-specialties with highly trusted brands such Beaver®, Visitec®, CustomEyes® kits, Readypak™ kits, Visc™, MultiVisc™, Aqueo Premium™Balanced Saline Solutions, OcuSeal® liquid ocular bandages, Merocel®and Weck-Cell ® fluid control products and Wet-Field® Eraser® electrosurgery products.
Beaver-Visitec is distributed in over ninety countries worldwide with a sales force recognized throughout the industry for their clinical expertise and outstanding customer service. With manufacturing locations in different part of the world, including in the US and in the UK, BVI maintains ISO-9001 and ISO-13485 certified quality standards for its FDA-registered manufacturing plant, with the UK facility acting as the authorized EU representative for CE mark purposes.
More information about Beaver-Visitec can be found at www.beaver-visitec.com.