EQT Acquires Clinical Innovations, LLC
EQT acquires Clinical Innovations, the leading global, pure-play provider of single-use clinician-preferred medical devices for Labor & Delivery departments within hospitals
EQT to continue accelerating Clinical Innovations' growth by leveraging EQT's experience in scaling medical device businesses, through further investment in bringing the leading products to international markets, and by continuing to add new clinician-preferred products to the portfolio
18 Oct, 2017, 13:44 BST
STOCKHOLM, Oct. 18, 2017 /PRNewswire/ --
The EQT Mid Market US fund ("EQT Mid Market US") today announced that it has acquired a majority stake in Clinical Innovations (the "Company"). Clinical Innovations is the leading global, pure-play provider of single-use clinician-preferred medical devices for Labor & Delivery ("L&D") departments within hospitals. The Company has recently expanded its product portfolio to also serve the Neonatal Intensive Care Unit ("NICU").
Clinical Innovations, founded in 1993 and headquartered in Salt Lake City, Utah, is the largest medical device company exclusively focused on L&D. Already a market leader in several categories with products such as the Kiwi® Vacuum-Assisted Delivery System and Koala® Intrauterine Pressure Catheter, Clinical Innovations is developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and babies. The Company's manufacturing facility in Utah is ISO 13485 certified. Clinical Innovations has built the industry's largest specialized L&D-focused sales force and has developed strong relationships with specialty medical device distributors. The Company has approximately 165 full time employees and serves more than 80 countries globally.
Brendan Scollans, Partner at EQT Partners Inc. and Investment Advisor to EQT Mid Market US, said: "We look forward to supporting Clinical Innovations' CEO Ken Reali and his team through their next phase of growth. The Company's portfolio of innovative and high-growth new products, combined with an impressive global sales organization, has enabled it to become a market leader within L&D. EQT's healthcare expertise and global presence will help the Company continue accelerating its international expansion and the broadening of its of best-in-class L&D and NICU product set through acquisitions."
Jerry He, Partner at EQT Partners Asia Limited stated: "We are impressed by Clinical Innovations' success in the fields of L&D and Neonatal care. Its product portfolio offers unique value to doctors, mothers and babies around the world. We are committed to supporting the Company's international growth strategy, especially as it looks to bring the strong product lineup to China and other Asian markets."
"We are eager to partner with EQT as we continue to develop our L&D and NICU strategy that we have executed over the past several years" said Ken Reali, President and CEO of Clinical Innovations. "EQT is an ideal fit for Clinical Innovations and our continuing growth. EQT's relationships, global presence and philosophy fit well with the Company culture and our strong commitment to delivering excellent products to clinicians to care for mothers and their babies", Reali added.
Simpson Thacher & Bartlett LLP is serving as legal advisor to EQT Mid Market US. Moelis & Company and Cain Brothers served as financial advisors to Clinical Innovations.
Contacts:
Brendan Scollans,
Partner at EQT Partners,
Investment Advisor to EQT Mid Market US,
+1-(917)-281-0849
KEKST:
+ 1-(212)-521-4800 (US media)
Daniel Yunger,
daniel.yunger@kekst.com
EQT Press Office,
+46-8-506-55-334
About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. EQT is an active investor and owner in the healthcare sector, including recent investments in Certara, Press Ganey, Ottobock, Sivantos, and Lima Corporate.
More info: www.eqtpartners.com
About Clinical Innovations
Clinical Innovations is one of the largest medical device companies exclusively focused on labor and delivery and the neonatal intensive care unit. The company is already a market leader in several categories with products such as the Koala® Intrauterine Pressure Catheter; Kiwi® Vacuum-Assisted Delivery System; ROM Plus® Rupture of Membranes Test; traxi® Panniculus Retractor; ClearView Uterine Manipulator; babyLance Safety Heelstick; and the recently added ebb Complete Tamponade System. Clinical Innovations is expanding its global presence while developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and their babies throughout the world.
More info: www.clinicalinnovations.com
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