BALT International Acquires Blockade Medical LLC

BALT International, has acquired Blockade Medical LLC, a privately held company focused on the development of catheter based therapeutic devices for the treatment of cerebral aneurysms. Terms of the acquisition were not disclosed.
 
This transaction perfectly aligns with BALT’s strategy, as defined by Nicolas Plowiecki and Bridgepoint at the end of 2015, to position BALT as a global leader in the neurovascular sector, and to develop its presence in the United States.
 
Blockade gives BALT an immediate footprint in the United States and expands the company’s presence in all key global markets. Moreover, Blockade’s Barricade Coil System perfectly complements BALT’s product portfolio, which is now the broadest in the market, according to the company. In addition, focus will be placed on the development and commercialization of additional innovative neurovascular devices for the treatment of aneurysms, stroke and other neurovascular conditions.
 
“This acquisition is a first strategic move towards transforming BALT into an integrated global neurovascular device company. BALT is recognized as a first mover in the market thanks to an R&D team, which has proven its ability and rapidity to develop blockbuster products such as the LEO stent, the SILK flow diverter and the SONIC detachable tip micro catheter. Blockade will nicely complement our product portfolio and will give us a strong expandable U.S.-based platform for our future development,” said Pascal Girin, CEO of BALT Inc. and president of BALT International.

Since it was established in 1977, BALT has worked with neurovascular surgeons to treat complex life-threatening conditions such as strokes, aneurysms and arteriovenous malformations. A pioneer in its field, BALT designs, manufactures and distributes the ‘Interventional neuro radiology’ (‘INR’) devices such as catheters, stents and coils that are essential in treating such conditions.
 
“We are proud to have Blockade Medical as a part of the BALT organization. Together, we will bring to market high quality products and maintain full technological independence, both at the root of innovation power,” said Nicolas Plowiecki, president of BALT.

“Blockade Medical is excited to join the BALT team. We believe the neurovascular expertise at Blockade Medical will complement BALT’s efficient and innovative organization. Unlike most competitors, BALT masters the whole value chain from design, manufacturing to distribution,” said Dave Ferrera, Blockade Medical’s president and chief technology officer.
 
BALT is a pure-play European medtech firm, and is a supplier to all major international hospitals practicing neuroradiology surgery. Headquartered in France, it boasts a number of proprietary, patent-protected products focusing on minimally invasive neurovascular techniques.
 
In 2015, the company generated 95 percent of its revenue outside France through its own sales network and more than 100 distributors worldwide.

Blockade Medical is a privately held medical device company focused on expanding the endovascular management of ischemic stroke, hemorrhagic stroke and related diseases of the neurovascular system. The company manufactures the Barricade Coil System in the United States and is based in Irvine, Calif.
 
Bridgepoint is a European private equity firm. With more than 20 billion euros of capital raised to date, it typically focuses on acquiring well-managed companies in attractive sectors with the potential to grow organically or through acquisition. In 2015, Bridgepoint returned more than 1.8 billion euros to investors. Realizations include the sale of Ponant, the specialist luxury cruise operator and market leader in specialist polar cruises, to Artemis, and Infront Sports & Media AG, which was sold to Dalian Wanda Group, one of the leading Chinese conglomerates and China’s largest investor in cultural and entertainment sector, for 1.05 billion euros ($1.2 billion). In December 2015, it sold LGC, the international life sciences company creating measurement and testing solutions for companies across the world, to KKR for an undisclosed sum.
 
Bridgepoint currently comprises two businesses. Bridgepoint Europe concentrates on middle-market companies across Europe typically valued between 200 million and 1 billion euros. It has offices throughout Europe in Frankfurt, Germany; Istanbul, Turkey; London, United Kingdom; Luxembourg; Madrid, Spain; Paris, France; and Stockholm, Sweden; and a portfolio development office in Shanghai, China. Bridgepoint Development Capital, a separate ‘lower mid-cap’ or smaller buyout and growth capital business, focuses on the acquisition of companies in the United Kingdom, France, and the Nordic region, typically valued between 50 million and 150 million euros.