KKR, Hologic, Ajax Health Create New Platform to Accelerate Medical Device Innovation

KKR, has announced a new product development platform established with investments from KKR and Hologic Inc. The new platform—Maverix Medical—will be managed by Ajax Health under the leadership of Duke Rohlen.
 
Maverix will develop and acquire innovative technologies and commercial operations within the lung cancer disease category. Lung cancer is the leading cause of cancer deaths worldwide. Each year, more people die of lung cancer than of colon, breast and prostate cancers combined.¹
 
“We have long admired the life-changing technologies pioneered by Hologic and are delighted to combine our collective resources to establish this new platform led by our long-time executive partner Duke Rohlen,” said Ali Satvat, partner, co-head of Americas Health Care and global head of Health Care Strategic Growth at KKR. “This unique strategic partnership has enormous potential to develop, advance and bring to market differentiated devices and diagnostics and enable meaningful treatments for lung cancer patients.”

KKR and Ajax Health will contribute existing portfolio company Serpex Medical to the platform. Serpex Medical develops steerable technology that can precisely target lung tissue for biopsy or delivering therapy.
 
“This strategic partnership strongly aligns with our leadership in diagnostic innovation and early cancer detection,” Hologic Chairman, President, and CEO Steve MacMillan stated. “Together with Ajax and KKR, we are excited to partner on a platform that leverages our strengths and expertise to target new disease categories, such as lung cancer, and that will allow us to continue to enable healthier lives everywhere, every day.”

KKR is investing in Maverix through its Health Care Strategic Growth strategy. Additional terms of the transaction were not disclosed.
 
“This is an ideal strategic collaboration for developing winning medical technologies that drive transformational growth and deliver patient impact. The Ajax team is eager to contribute our successful experience building portfolios of innovative products to Hologic’s commercial and strategic capabilities and KKR’s approach to scaling companies and supporting growth together to create value and improve patient outcomes,” Rohlen said.
 
Ajax builds growth engines that generate product portfolios to catalyze value creation for larger, commercial-stage medtech companies. Backed by premier global private equity firms including KKR, the Ajax team draws on more than 20 years of experience as entrepreneurs, operators, and investors. Ajax Health is headquartered in Menlo Park, Calif., and has offices in New York City, Los Angeles, and Austin. 
 
Hologic Inc. is a global medical technology innovator focused on improving the health and well-being of women, their families, and communities through early detection and treatment. Its advancements include the invention of the world’s first commercial 3D mammography system to find breast cancer earlier; leadership in testing for cervical cancer, sexually transmitted infections, and respiratory illnesses; minimally invasive surgical technologies for uterine fibroids and abnormal uterine bleeding; and advanced vessel sealing and dissection devices. 
 
KKR is a global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. 

Reference 
¹ World Health Organization. Cancer. https://www.who.int/news-room/fact-sheets/detail/cancer Last accessed November 12, 2023.