HealthpointCapital Partners has sold Blue Belt Holdings Inc to Smith & Nephew Inc for about $275 million. Blue Belt is a a maker of surgical instruments.
NEW YORK, Jan. 7, 2016 /PRNewswire/ — HealthpointCapital Partners III, LP (“HealthpointCapital”) announced today that its sale of Blue Belt Holdings, Inc. (“Blue Belt”) to Smith & Nephew, Inc. has now been completed for a cash purchase price of approximately $275 million.
“We are very pleased to have invested in Blue Belt and worked with their team so extensively over the course of our investment to develop game changing technology that creates new procedures and approaches in the large joint continuum of care. In addition, we are delighted that the sale of Blue Belt to Smith & Nephew reflects our strong ties with major players in the advanced medical technology field and the worldwide community of orthopedic surgeons,” said Tim Berkowitz, President and Co-CEO of HealthpointCapital and Chairman of Blue Belt.
HealthpointCapital is a values-driven, research-based private equity firm exclusively focused on the musculoskeletal sector — specifically orthopedics and dental. HealthpointCapital manages in excess of $800 million of institutional capital.
Blue Belt’s Navio® surgical system currently provides robotics-assistance in unicondylar or partial knee replacement surgery through CT-free navigation software and a unique hand-held, robotic bone-shaping device.