Sam Brusco, Associate Editor10.05.22
Halma has acquired IZI Medical Products, a maker of devices used across a variety of diagnostic and therapeutic procedures for an initial consideration of $153.5 million.
IZI, based in Baltimore and founded by a neuroradiologist and a radiation oncologist, serves primarily the image-guided surgery, interventional oncology, and interventional neuro and spine procedures markets. The company holds over 100 active patents and a portfolio of 44 devices.
“Our purpose is to improve patients’ lives with physician-led innovation. This vision aligns to Halma’s when it comes to improving quality of care delivered by healthcare providers,” Greg Groenke, CEO of IZI told the press. “Many physicians started using our technologies in medical school and have continued to do so throughout their careers. Joining the Halma group will take IZI Medical Products to the next level, adding R&D, commercial and international growth opportunities that will help us in our journey to advance healthcare for patients worldwide.”
IZI’s portfolio adds devices placed on or in the body to mark and area for radiation treatment or surgery to Halma’s Therapeutic Solutions Group. It also adds core biopsy devices for breast, thyroid, intraabdominal, liver, kidney, and bone. Products to diagnose and strengthen vertebrae compromised due to osteoporosis or bone cancer were also gained.
“IZI further extends our Healthcare sector into products supporting minimally invasive diagnosis and treatment of acute conditions, principally cancer,” said Halma group chief executive Andrew Williams. “IZI’s growth is supported by the higher incidence of health conditions in ageing populations, improved screening and diagnostics enabling earlier treatment of disease, and expansion into adjacent applications through innovation.”
Halma has completed 16 healthcare acquisitions in the last five years, totaling about $419.5 million.
IZI, based in Baltimore and founded by a neuroradiologist and a radiation oncologist, serves primarily the image-guided surgery, interventional oncology, and interventional neuro and spine procedures markets. The company holds over 100 active patents and a portfolio of 44 devices.
“Our purpose is to improve patients’ lives with physician-led innovation. This vision aligns to Halma’s when it comes to improving quality of care delivered by healthcare providers,” Greg Groenke, CEO of IZI told the press. “Many physicians started using our technologies in medical school and have continued to do so throughout their careers. Joining the Halma group will take IZI Medical Products to the next level, adding R&D, commercial and international growth opportunities that will help us in our journey to advance healthcare for patients worldwide.”
IZI’s portfolio adds devices placed on or in the body to mark and area for radiation treatment or surgery to Halma’s Therapeutic Solutions Group. It also adds core biopsy devices for breast, thyroid, intraabdominal, liver, kidney, and bone. Products to diagnose and strengthen vertebrae compromised due to osteoporosis or bone cancer were also gained.
“IZI further extends our Healthcare sector into products supporting minimally invasive diagnosis and treatment of acute conditions, principally cancer,” said Halma group chief executive Andrew Williams. “IZI’s growth is supported by the higher incidence of health conditions in ageing populations, improved screening and diagnostics enabling earlier treatment of disease, and expansion into adjacent applications through innovation.”
Halma has completed 16 healthcare acquisitions in the last five years, totaling about $419.5 million.