Resonetics02.01.18
Resonetics has announced that Regatta Medical has made a strategic investment in the company. Led by CEO Chip Hance, Regatta Medical is a portfolio company of GTCR, a leading private equity investor in the healthcare sector. Going forward, the existing Resonetics management team, led by CEO Tom Burns, will continue in their existing roles as a subsidiary of Regatta Medical.
Founded in 1987 and headquartered in Nashua, New Hampshire, Resonetics is a medical device contract manufacturing organization, 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.
“GTCR has an impressive track record, with nearly 40 years of successful investing in healthcare companies,” said 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 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.
Founded in 1987 and headquartered in Nashua, New Hampshire, Resonetics is a medical device contract manufacturing organization, 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.
“GTCR has an impressive track record, with nearly 40 years of successful investing in healthcare companies,” said 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 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.