PE Deals

Inverness Graham buys surgical essentials firm Innovia Medical from Shore Capital

Shore Capital formed Innovia Medical through the initial acquisitions of Summit Medical, Inc. in February 2015 and Shippert Medical in October 2015.

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  • Piper Sandler & Co. served as financial advisor to Innovia and Winston & Strawn LLP served as legal advisor to Shore Capital and Innovia on the transaction
  • Faegre Drinker Biddle & Reath LLP served as legal advisor to Inverness Graham
  • Shore Capital targets the healthcare, food and beverage, business services, and real estate industries

Shore Capital Partners has sold Innovia Medical, a St. Paul, Minnesota-based surgical essentials and sterile processing products provider, to Inverness Graham. No financial terms were disclosed.

Shore Capital formed Innovia Medical through the initial acquisitions of Summit Medical, Inc. in February 2015, and Shippert Medical in October 2015.

“Innovia’s success to-date can be attributed to the strong alignment of the platform’s founders and employees with the strategic direction that Terry expertly led,” said Don Pierce, a partner at Shore and chairman of the board of Innovia, in a statement. “We are pleased to have supported the development of Innovia into one of the leading medical device platforms in the specialty surgical market, and we believe that the company is well-positioned for continued growth.”

Piper Sandler & Co. served as financial advisor to Innovia and Winston & Strawn LLP served as legal advisor to Shore Capital and Innovia on the transaction. Faegre Drinker Biddle & Reath LLP served as legal advisor to Inverness Graham.

Based in Chicago, Shore Capital targets the healthcare, food and beverage, business services, and real estate industries.