Beaver-Visitec International, a portfolio company of TPG Capital, has acquired Vitreq, a Dutch ophthalmic technology company. No financial terms were disclosed.
July 12, 2017 10:00 AM Eastern Daylight Time
WALTHAM, Mass.–(BUSINESS WIRE)–Beaver-Visitec International (BVI), a leading global developer, manufacturer, and marketer of specialized surgical devices for the ophthalmic marketplace, announced today it has acquired Vitreq, a next-generation ophthalmic technology company. Additional terms of the transaction were not disclosed.
“At Vitreq, it’s our mission to develop reliable, safe, and sophisticated tools that provide surgeons with the support and innovation necessary to perform at the highest levels,” said Frank Ruseler, CEO and Co-Founder of Vitreq. “In BVI, we have found a partner that is committed to growing our organization, best positioning us to achieve our mission of becoming one of the leading vitreoretinal surgery platforms. The company continues to build a robust, high-quality ophthalmic portfolio that we are thrilled to become a part of. We look forward to working closely with Dana and the rest of the team to expand our product offering and footprint.”
Headquartered in Netherlands, Vitreq develops and manufactures high-quality, innovative products for the ophthalmic industry. With a special focus on vitreoretinal surgery, Vitreq’s team of in-house R&D, engineering, and manufacturing professionals collaborate with renowned surgeons to create a portfolio of state-of-the-art minimally-invasive instruments designed to match the demands of today’s surgical environment. Founded by a group of industry veterans, Vitreq’s management has more than 80 years of ophthalmic experience.
“The Vitreq team has quickly established a trusted brand with vitreoretinal surgeons through their unique, customer-centric product development model. We are excited to combine our efforts with the goal of building a leading global vitreoretinal franchise under the Vitreq brand,” said Dana G. Mead, Jr., President and CEO of BVI. “We welcome the Vitreq employees to the BVI team and look forward to delivering our combined portfolio of high quality, innovative products to an expanded group of customers worldwide.”
BVI’s acquisition of Vitreq builds on a period of momentum for the company, beginning with an investment from TPG Capital last year. Since the partnership, BVI has made four key leadership appointments – including Dana G. Mead, Jr. as CEO – and two acquisitions that expand its growing portfolio.
About Beaver-Visitec International, Inc.
Headquartered in Waltham, Massachusetts, USA, Beaver-Visitec International develops, manufactures and markets ophthalmic and other specialty microsurgical products. Beaver-Visitec distributes products in over 90 countries worldwide and operates manufacturing facilities in Waltham, MA, USA and Bidford on Avon, U.K. Beaver-Visitec offers products and services for all aspects of Ophthalmic Surgery, including cataract, refractive, oculoplastic, and vitreoretinal sub-specialties as well as other specialty microsurgery procedures. More information about Beaver-Visitec International can be found at www.beaver-visitec.com.