10.28.14
Leica Biosystems, a subsidiary of Danaher Corporation, has agreed to acquire Devicor Medical Products, which makes breast biopsy devices. Leica Biosystems is concerned with anatomical pathology solutions and automation used to advance cancer diagnostics.
Cincinnait, Ohio-based Devicor makes vacuum-assisted biopsy segment of the breast biopsy market. Its products include the Mammotome breast biopsy system, tissue markers and related products.
Devicor began as a management partnership formed as part of private equity firm GTCR’s “Leaders Strategy” program to build a successful medical device company focused on interventional procedures. In 2010, Devicor completed its initial platform acquisition with the corporate carve-out of the Mammotome breast care business from Johnson & Johnson. During the two-year carve-out, Devicor built dedicated manufacturing, transitioned a global business in more than 50 countries out of Johnson & Johnson, secured new regulatory permits in several countries, and reinvested heavily in new product research & development. As a result of the successful carve-out and transformation, Devicor was able to create a standalone, fully-integrated, global medical device business and was able to leverage its commercial platform to complete several complementary tuck-in acquisitions.
“We’d like to thank GTCR for their commitment and support in helping build Devicor over the last four years,” said CEO of Devicor Tom Daulton. “We have had a great partnership with GTCR and we look forward to working with Danaher to continue our efforts to develop products that advance the accurate diagnosis and treatment of breast cancer.”
Cincinnait, Ohio-based Devicor makes vacuum-assisted biopsy segment of the breast biopsy market. Its products include the Mammotome breast biopsy system, tissue markers and related products.
Devicor began as a management partnership formed as part of private equity firm GTCR’s “Leaders Strategy” program to build a successful medical device company focused on interventional procedures. In 2010, Devicor completed its initial platform acquisition with the corporate carve-out of the Mammotome breast care business from Johnson & Johnson. During the two-year carve-out, Devicor built dedicated manufacturing, transitioned a global business in more than 50 countries out of Johnson & Johnson, secured new regulatory permits in several countries, and reinvested heavily in new product research & development. As a result of the successful carve-out and transformation, Devicor was able to create a standalone, fully-integrated, global medical device business and was able to leverage its commercial platform to complete several complementary tuck-in acquisitions.
“We’d like to thank GTCR for their commitment and support in helping build Devicor over the last four years,” said CEO of Devicor Tom Daulton. “We have had a great partnership with GTCR and we look forward to working with Danaher to continue our efforts to develop products that advance the accurate diagnosis and treatment of breast cancer.”