“KKR offers us the privilege of working with a highly regarded long-term capital partner which will enable us to create next-level innovations and beyond, aimed at greater disruption and democratization of the global ultrasound market,” CEO Kevin Goodwin, who founded SonoSite, said in prepared remarks. “We feel very fortunate to have gained the support of KKR as we set out to build on our work in this field over the last decade.”
Signostics said the infusion will fuel its R&D program and pay for expanding its worldwide commercial footprint. The company’s Sonimage P3 won 510(k) clearance from the FDA in 2013; a new product is on tap for 2016, and Signostics said it’s planning “a series of breakout advancements in ultrasound technology.”
Signostics drafted Goodwin last April, following SonoSite’s $1 billion acquisition by Fujifilm Holdings (TSE:4901) 3 years ago. The company said it shifted its corporate domicile and headquarters from Clovelly Park, Australia, to Kirkland, Wash., before consummating the deal with KKR.
“We are thrilled to be investing behind such a visionary and accomplished team to support them in their continued development of innovative products that improve medicine and enable more efficient health care,” KKR healthcare principal Justin Sabet-Peyman said.
Best known for its leveraged buyouts, New York-based KKR was founded in 1976 by Henry Kravis, George Roberts and Jerome Kohlberg, and managed a total $98.7 billion as of the end of September. It has been funding growth equity investments from its own balance sheet until its raises a dedicated fund.
Material from Reuters was used in this report.