Devicor Medical Owned by Private Equity Firm Acquires Johnson & Johnson subsidiary Ethicon Endo-Surgery Business
Posted Jul 12 2010 5:30pm
Private equity firms are certainly making their moves in healthcare and here’s one more with Ethicon being purchased from Johnson and Johnson.
We have a name change coming up too: Mammotome.
Back at the end of March of this year is when Golder Rauner made their offer to Johnson and Johnson. BD
Devicor Medical Products Inc., owned by private equity firm GTCR Golder Rauner LLC, acquires the breast care business of Johnson & Johnson subsidiary Ethicon Endo-Surgery.
The newly acquired business will be known as Mammotome, a Devicor Medical Products company. As part of the deal, Devicor also acquired marketing and distribution rights for Neoprobe Gamma Detection Systems (OTC:NEOP).
New Devicor and Mammotome CEO Tom Daulton said in an early March release that his company had $250 million from private equity firm GTCR to buy "established interventional medical device businesses that make and sell products to clinicians in hospitals, surgery centers or ambulatory clinics." Devicor’s first acquisitions were supposed to "provide infrastructure and personnel in key areas such as manufacturing, R&D, engineering, sales & marketing, finance and human resources," according to the release.