Riverside Partners has sponsored a recapitalization of IZI Medical Products, a Baltimore-based provider of medical markers used in image-guided surgery, radiology and radiation therapy. No financial terms were disclosed for the deal, which was done in partnership with company management.
Riverside Partners, based in Boston, MA, is pleased to announce that it has partnered with management to recapitalize IZI Medical Products (“IZI” or the “Company”).
Founded in 1991, IZI is a provider of high quality medical markers used in Image Guided Surgery (“IGS”), radiology and radiation therapy procedures. IZI’s products range from fiducial markers, used with MRI, CT, and PET technologies, to highly engineered passive reflective markers used during complex IGS procedures. The Company’s medical markers are highly versatile and cross functional and can be used across a broad range of medical specialties including radiation therapy, radiology, orthopedics, and ear, nose, and throat procedures. IZI is headquartered in Baltimore, MD.
“As a family-owned business, IZI cared deeply about finding the right partner to help the Company accelerate its growth. Riverside Partners understood the nuances of our business and is already acting as a trusted partner,” said Helen Zinreich Shafer, CEO of IZI Medical Products.
“Riverside is thrilled to partner with the founders of IZI,” said Philip Borden, General Partner at Riverside. “IZI’s focus on innovative medical markers fits perfectly with Riverside‘s healthcare and technology experience. We are highly enthusiastic about continuing to support IZI’s strong existing management team and its multiple avenues for future growth.”
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund III, L.P. The fund focuses on growth-oriented companies in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 – $200 million and with $5 – $25 million of EBITDA.
About IZI Medical Products
Founded in 1991, IZI Medical Products is a provider of high quality medical markers used in radiation, radiation therapy, and image guided surgery procedures. Headquartered in Baltimore, MD, IZI’s products range from fiducial markers used with MRI, CT, and PET technologies to highly engineered passive reflective markers used during image guided surgery.