H.I.G. BioHealth Partners, the healthcare investment affiliate of H.I.G. Capital, said Oct. 11 that closed the sale of it HyperBranch Medical Technology Inc to Stryker Corp for about $220 million. HyperBranch develops medical devices. Cooley LLP represented HyperBranch in the transaction.
MIAMI–(BUSINESS WIRE)–H.I.G. BioHealth Partners (“H.I.G.”), the dedicated healthcare investment affiliate of H.I.G. Capital, a leading global private equity investment firm with over $27 billion of equity capital under management,* recently announced the sale of HyperBranch Medical Technology, Inc. (“HyperBranch”) to Stryker Corporation (NYSE:SYK), one of the world’s leading medical technology companies, for a total equity value of approximately $220 million in an all cash transaction.
HyperBranch is dedicated to developing medical devices based on its proprietary polymers and cross-linked hydrogels. Its Adherus AutoSpray Dural Sealant product is one of only two FDA-approved dural sealants on the market.
Michael Wasserman, Ph.D., an H.I.G. Managing Director and former HyperBranch board member, said, “Together with HyperBranch’s talented management team and board, we successfully grew the company into a leader in the surgical sealant space, commercializing innovative products with significant benefits to patients, physicians and healthcare providers.”
Cooley, LLP represented HyperBranch in the transaction.
About H.I.G. BioHealth Partners
H.I.G. BioHealth Partners is the dedicated life-science investment affiliate of H.I.G. Capital. H.I.G. BioHealth Partners invests in a broad range of healthcare opportunities across sectors and stages, principally in companies developing therapeutic drugs, medical devices, and diagnostics for significant unmet medical needs. With approximately $400 million in committed capital, H.I.G. BioHealth Partners invests $5 million to $40 million per company over the life of an investment. For more information, please refer to the H.I.G. BioHealth Partners website at www.higbio.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.