JLL Partners announced that it entered into a partnership with Bart Doedens to form Renovo Health, committing $100 million to build the materials technology company.
Renovo Health is set up to buy, build and develop materials technologies to improve efficacy across medical and dental procedures with an opportunity for near-term expansion, according to a news release. JLL’s $100 million commitment seeks to fund future acquisitions and add capital available as Renovo pursues its growth strategy.
Doedens is a veteran of more than 30 years in the biomedical industry, having most recently served as CEO of Collagen Matrix. He also held roles such as president of Biomet 3i, VP of Dentsply Sirona (NSDQ:XRAY) and president of Atlas Spine.
“I am thrilled to partner with JLL to build Renovo Health into a preeminent platform that can fundamentally improve people’s lives,” Doedens said in the news release. “By bringing together management’s sector knowledge, JLL’s track record of building transformational healthcare businesses, and the wide breadth of materials technologies and solutions available in the current marketplace, Renovo Health is ideally positioned to lead the next phase of growth in the industry.”
“We firmly believe underlying demographic and healthcare trends, coupled with the increasing sophistication and applications for materials technologies, provide a strong backdrop for this endeavor,” added JLL managing director Dan Agroskin. “Bart has proven time and again to be an exceptional leader, with the industry expertise and strategic vision requisite to back and build a market-leading platform that is defined by its commitment to quality, technical differentiation, innovation, comprehensive scale, and customer service.”