NASHUA, N.H., Feb. 1, 2018 /PRNewswire/ -- Resonetics announced today that Regatta Medical has made a strategic investment
Founded in 1987 and headquartered in Nashua, New Hampshire, Resonetics is a leading medical device contract manufacturing organization ("CMO"), specializing in laser micro-manufacturing for interventional medical devices. The company's capabilities include precision laser prototyping and manufacturing, including creating features as small as one micron, a fraction of a human hair, in a variety of materials. Over the past 30 years, Resonetics has developed a diverse base of blue chip medical device customers, a highly experienced team of technical engineers and scientists, and a well-positioned facility network in major medical device manufacturing hubs. This platform enables the company to work with its customers across a wide range of interventional products and medical device segments, including neurovascular, diabetes, structural heart and other interventional specialties.
Dave Finley, Managing Director at Sverica, said "Resonetics has been a very successful growth story for Sverica's business-builder model across our High-Value Industrial and Healthcare verticals. We were very pleased to extend the relationship with Chip Hance, Tom Burns and the Resonetics team, and to work with GTCR and the resources they will bring to bear to continue to grow and scale the company."
"GTCR has an impressive track record, with nearly 40 years of successful investing in healthcare companies," said Tom Burns, adding that "The Regatta Medical team are highly regarded industry veterans in the medical device industry and we look forward to leveraging their expertise in the next phase of our growth."
"Resonetics is a leader in laser micro-manufacturing and we will be collaborating with Tom and the Resonetics team to drive significant organic and acquisition-based growth in the near-term," said Chip Hance.
"We are excited to partner with Chip, Tom, and the management team to continue to build Resonetics," said GTCR Managing Director, Sean Cunningham. "Resonetics is an excellent platform, fabricating high-quality medical devices with innovative laser technology. We look forward to supporting the company's growth plans, including both investments in new technology and strategic follow-on acquisitions."
In addition to Regatta Medical the selling equity sponsor, Sverica Capital Management, and the existing management team will retain minority stakes in Resonetics. Kirkland & Ellis LLP served as legal counsel and PricewaterhouseCoopers served as accounting advisor to Regatta Medical. Foley & Lardner served as legal counsel to Sverica and Resonetics.
About ResoneticsFounded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs, builds and integrates its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading edge technology. Combining state-of-the-art laser systems with a large and innovative technical team allows Resonetics to partner with customers and provide winning solutions that meet all technical, quality and economic requirements. Learn more at www.resonetics.com.
About Regatta MedicalRegatta Medical was formed in April 2017 as a partnership between Robert "Chip" Hance, Mark Weishaar, and GTCR. Regatta Medical's mission is to build a leading company in the medical device industry by acquiring outstanding medical device products and services businesses. For more information about Regatta Medical, please visit www.regattamedical.com
About GTCR Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.
About Sverica Capital ManagementSverica is a leading lower-middle-market-focused private equity firm that has raised over $700 million of investment capital across four funds. The firm acquires and actively builds companies that are, or could become, leaders in their industries. Since 2001, Sverica has maintained a "high touch" operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.
View original content:http://www.prnewswire.com/news-releases/resonetics-announces-recapitalization-with-gtcrs-regatta-medical-300592023.html
Subscribe to our Free Newsletters!
Inguinal hernia surgery is a procedure to repair a weak spot or defect in the lower wall of the ...
Hypopituitarism is a rare disorder resulting from decreased secretion of one or more of the ...
Palliative care is a specialized multifaceted care for patients with chronic or terminal illness to ...View All