Private equity shop Essex Woodland yesterday said it raised $745 million for its over-subscribed second EW Healthcare Partners fund. The raise is nearly $100 million more than EW’s $650 million goal and tops its first fund b y some $200 million, the New York City-based firm said. The PE investor said it looks for fast-growing, […]
Essex Woodlands Health Ventures
Immucor said it named Jeffrey Binder, who led Biomet until its $13.34 billion merger with Zimmer (NYSE:ZMH), to be its new chairman, president & CEO. Binder replaces William Hawkins, the former Medtronic (NYSE:MDT) chief executive who took the reins at Immucor in 2011. Hawkins will assume the role of lead director on Immucor’s board, that company said. Immucor is […]
MRI Interventions (OTC:MRIC), a company developing minimally invasive neurosurgery systems, launched an initial public offering with shares at $1 apiece.
The Memphis-based company’s flagship ClearPoint technology allows patients to undergo surgery during MRI scanning, using the images to target areas of the brain for surgery.
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British orthopedic titan Smith & Nephew (NYSE:SNN) shuffled its business deck yet again with the spinout of its biologics and clinical therapies division in a joint venture with venture capital firm Essex Woodlands.
Essex will own 51% of the new business, named Bioventus LLC, with Smith & Nephew holding the remainder.
SNN will also get $98 million in cash, which it plans to use to pay down debt, and a $160 million, 5-year note from Bioventus, according to a press release.
Dan Lemaitre, the former CEO of CoreValve Inc., will head up Essex Woodlands Health Ventures’ new medical device fund, White Pine Medical.
Last year Medtronic Inc. (NYSE:MDT) spent about $700 million, plus a possible $150 million more, buying CoreValve and its aortic valve replacement device. Lemaitre, who was a senior vice president at Medtronic before his stint at CoreValve, spent 28 years as an analyst at SG Cowen and Merrill Lynch, covering the medical device industry.
He’ll start his new fund with $50 million from Essex Woodlands, which Lemaitre said is looking to do some bargain hunting.