Astorg, a prominent European private equity firm, has successfully completed its acquisition of Hamilton Thorne and Cook Medical's Reproductive Health division, creating a global leader in assisted reproductive technology (ART) and in vitro fertilization (IVF). This strategic move enhances Astorg's MedTech portfolio, a vital segment of its healthcare investments.
Following the acquisition, Hamilton Thorne has been delisted from the Toronto Stock Exchange. The merger combines Hamilton Thorne's precision instruments and software with Cook Medical RH's extensive range of ART consumables, including ovum aspiration needles and catheters. The newly formed entity aims to improve fertility treatment outcomes for customers and families worldwide.
The combined company will serve over 115 countries, providing fertility clinics and IVF laboratories with a comprehensive suite of innovative products. Olivier Lieven, Managing Director at Astorg, emphasized that this merger creates a unique, scalable ART business poised to tackle increasing fertility challenges and support professionals and families in their fertility journeys.
To spearhead the next phase of growth, a new management team has been appointed. Wil Boren takes the helm as Chief Executive Officer (CEO), bringing extensive experience from his previous role at Paragon Medical, where he successfully unified multiple manufacturing sites and drove significant growth. Jimmy DeStephens has been appointed as Chief Financial Officer (CFO) and Chief Operating Officer (COO), with over 20 years of experience in finance and operations within the MedTech sector.
Astorg's team, alongside the new management, is committed to delivering high-quality, innovative products and services to the global fertility market. Tobias Nordblom, Managing Director at Astorg, expressed confidence in Boren's leadership capabilities, highlighting his proven track record in growing international MedTech businesses.
The merger is expected to roll out a new brand identity in 2025, further solidifying its position as a leader in the ART sector. Boren remarked on the significance of this merger, stating it marks a pivotal moment for both Hamilton Thorne and Cook Medical RH as they embark on this new journey together.
Overall, the combination of these two companies under Astorg's guidance is set to enhance the accessibility and effectiveness of fertility treatments globally, positioning the new entity as a key player in the ART market.
The reproductive health sector has witnessed significant activity in recent years:
• KKR’s Acquisition of IVI-RMA Global: In 2022, KKR acquired Spain-based IVI-RMA Global, one of the world’s largest fertility clinic groups, for approximately $3.2 billion. This move expanded KKR’s footprint in the fertility services market.
• BGH Capital’s Acquisition of Virtus Health: In August 2022, Australian private equity firm BGH Capital completed the acquisition of Virtus Health, a leading provider of assisted reproductive services, resulting in Virtus Health’s delisting from the Australian Stock Exchange.
• General Atlantic’s Investment in Flo Health: In July 2024, General Atlantic invested $200 million in Flo Health, a London-based women’s health app, valuing the company at over $1 billion. This investment underscores the growing interest in digital health solutions within the reproductive health sector.
• InTandem Capital’s Formation of Ivy Fertility: In May 2021, InTandem Capital Partners facilitated the merger of Reproductive Partners Medical Group, Fertility Centers of Orange County, and San Diego Fertility Center to form Ivy Fertility, aiming to create a leading network of fertility clinics in the United States.
Hamilton Thorne Ltd. is a leading global provider of precision instruments, laboratory equipment, consumables, software, and services for the Assisted Reproductive Technologies (ART), research, and cell biology markets.
The company markets its products and services under various brands, including Cook Medical, Gynemed, Gynetics, Hamilton Thorne, IVFtech, Planer, Tek-Event, and Embryotech Laboratories, through a growing sales force and worldwide distribution network supporting over 115 countries.
Hamilton Thorne’s diverse customer base includes fertility clinics, university research centers, animal breeding facilities, pharmaceutical companies, biotechnology companies, and other commercial and academic research establishments.
Cook Medical’s Reproductive Health division specializes in developing and manufacturing minimally invasive medical devices for fertility, obstetrics, gynecology, in vitro fertilization (IVF), and assisted reproductive technology (ART)
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