Belmont Instrument LLC, which is backed by Audax Private Equity, has acquired MTRE Advanced Technologies Ltd from Mennen Medical Ltd. No financial terms wee disclosed. Based in Yavne, Israel, MTRE is a maker of non-invasive solutions for body temperature management.
BILLERICA, Mass., June 20, 2018 /PRNewswire/ — Belmont Instrument, LLC (“Belmont”) announced it has acquired MTRE Advanced Technologies Ltd. (“MTRE”) product lines from Mennen Medical Ltd. MTRE, headquartered in Yavne, Israel, is an advanced developer and manufacturer of non-invasive solutions for body temperature management. Terms of the transaction were not disclosed.
Belmont’s acquisition of MTRE extends its portfolio to include non-invasive body temperature management solutions and advances Belmont’s strategy to invest in technologies that leverage the company’s existing product portfolio and sales channels. MTRE’s normothermia management product line includes the Allon® system and ThermoWrap® disposable garment, and MTRE’s temperature management portfolio includes the CritiCool® system and CureWrap™. These non-invasive solutions are designed to enable healthcare providers to exercise precise control of body temperature, allowing for significant medical and economic benefits. The portfolio targets a wide range of medical applications and disciplines. Specifically, the Allon system is indicated for use in hospital invasive and coronary care units, operating, recovery and emergency rooms, burn units, and on medical and surgical floors. CritiCool is a thermo regulating system indicated for monitoring and controlling patient temperature. CritiCool is commonly used in procedures where there is a need for Target Temperature Management. Both the ThermoWrap and CureWrap lines of disposable garments are available in adult, pediatric, and infant sizes.
Brian Ellacott, Chief Executive Officer, Belmont, stated, “We are very pleased to bring the MTRE patient temperature management portfolio to healthcare providers worldwide and to the Belmont family. This is the first among several planned strategic acquisitions for Belmont as we build out a strong global product portfolio to better support clinicians and leverage our core strengths in anesthesiology, critical care and trauma to broaden the availability of these products in the market.”
Ran Namerode, Chairman, Mennen Medical Group, stated, “We are thrilled to engage with Belmont in this transaction that will accelerate the growth of MTRE’s temperature management portfolio to benefit more patients globally.”
About Belmont Instrument, LLC
Massachusetts based Belmont Instrument, LLC is a leading provider of fluid management and critical care medical devices for use worldwide in medical facilities, military combat fields, and EMS settings.
Belmont’s premier product is The Belmont® Rapid Infuser RI-2—more commonly referred to as “The Belmont”—which utilizes electromagnetic induction heating to provide precise control of temperature and infusion during fluid resuscitation. Belmont’s technology is credited with saving thousands of lives globally by infusing warm blood and fluid into patients experiencing massive blood loss, while exceptional air removal features help keep the patient safe from air embolism. The Belmont is used for high-volume infusions in operating rooms, emergency and critical care, labor and delivery, pediatric departments, and military hospitals.
Belmont is a portfolio company of Audax Private Equity (“Audax”). Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $5 billion in 114 platform and 676 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value.
For more information about Belmont and its products, please visit www.belmontinstrument.com. For more information about the Audax Group, please visit www.audaxgroup.com.
About Mennen Medical Ltd.
Mennen Medical Group is a leader in patient monitoring, diagnostic instrumentation, and clinical information systems for hospital based cardiac catheterization and critical care applications. Among its product lines are also aEEG, BiliCare, and others. In addition, Mennen Medical owns other medical devices companies and technologies through acquisitions and other investments made by its start-ups’ investment arm – Mennen Medical Ventures. Mennen Medical acquired MTRE in 2006, and since that time, the company has developed into a world leader in Targeted Temperature Management technology.