Devicor Medical Products, Inc. Closes Ethicon Endo-Surgery Breast Care Business Deal
CINCINNATI, July 12 /PRNewswire/ — Devicor Medical Products, Inc. (Devicor), a portfolio company of GTCR, announced today that the company has completed the acquisition of Ethicon Endo-Surgery’s (EES) Breast Care business. The Breast Care business sells products designed to help doctors diagnose breast cancer at early stages while minimizing patient discomfort. The business will formally be known as Mammotome, a division of Devicor Medical Products, Inc.
The EES Breast Care product portfolio is sold in 50 countries around the world and includes the MammotomeÃ‚® Breast Biopsy System and tissue markers (MammoMARKÃ‚®, MicroMARKÃ‚®, and CorMARKÃ‚®) used for breast disease diagnostic sampling and management. As part of the agreement, Devicor also acquired marketing and distribution rights for NeoprobeÃ‚® Gamma Detection Systems.
“Mammotome is a global leader in vacuum assisted breast biopsy devices and is a brand that is recognized worldwide. Today, we are excited to begin the work of further developing the Mammotome brand globally,” says Tom Daulton, Chief Executive Officer, Devicor and Mammotome.
Mammotome’s corporate headquarters will be located in Sharonville, Ohio, where it has leased 30,000 square feet of office space in Summit Woods Office Park, at 300 E-BusinessWay. Recently, the company was awarded a 60 percent job creation tax credit for seven years, valued at $1.5 million, from the Ohio Department of Development.
Now that the transaction is complete, nearly 300 EES associates primarily dedicated to the Breast Care business will be hired by Mammotome. “The talent and expertise of the Mammotome employees will allow us to continue to provide the best in innovative technologies to our customers around the world,” says Daulton.
Mammotome’s plans for growth include adding more than 150 jobs worldwide of which approximately 70 positions will be located at the corporate headquarters. In addition, Mammotome plans to build a new manufacturing plant in the next 12-18 months.
“The acquisition of the Breast Care business is a key component in achieving our objective of building a leading medical device business,” says Dean Mihas, Principal of GTCR. “Given Tom Daulton’s impressive track record leading and growing global medical device businesses, we’re excited to be a partner in this acquisition and are committed to providing the resources to further strengthen Mammotome’s market leading position through organic growth and strategic expansion.”
About Devicor Medical Products, Inc.
Devicor is a newly formed company focusing on minimally invasive medical procedures, with an initial focus on the vacuum assisted breast biopsy market. The company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures. For more information, please visit www.devicormedical.com.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8 billion in over 200 companies. For more information, please visit www.gtcr.com.
SOURCE Devicor Medical Products, Inc.