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Acquisition expands Corza's portfolio of ophthalmic surgery products
Chicago, IL and Westwood, MA – June 8, 2022
GTCR, a leading private equity firm, announced today that its portfolio company Corza Medical (“Corza”), a leading global manufacturer of innovative surgical technologies, has acquired Barron Precision Instruments, LLC (“BPI”), a founder-owned medical device company focused on ophthalmic surgery products.
Founded in 1948 and headquartered in Grand Blanc, Michigan, BPI has over 70 years of experience manufacturing disposable medical devices. BPI is a leader in ophthalmic products used in corneal surgeries, delivering unique designs and innovative technologies to patients suffering from corneal disease across the globe.
The acquisition of BPI enhances Corza's portfolio of surgical products and expands the company’s manufacturing footprint. This transaction represents Corza’s second add-on acquisition since its formation in January 2021 and follows the transformative acquisition of Katena Products, Inc. in December 2021, which served as the foundation of its Corza Ophthalmology business unit.
"The addition of BPI is highly complementary to our existing ophthalmic surgery portfolio," said Greg Lucier, Executive Chairman of Corza. “The acquisition of BPI broadens our ability to target various disease states and highlights our dedication to building Corza through M&A. We look forward to continuing to support the customer base with an unwavering commitment to product quality and customer service.”
“For more than seven decades, BPI and the Barron family have delivered trusted performance and consistent innovation serving the corneal transplant market," said Dan Croteau, CEO of Corza. “The acquisition of BPI reinforces Corza’s commitment to providing exceptional service and value to our customers, transforming surgical outcomes and changing the lives of patients. We look forward to having the highly skilled team at BPI join the global Corza family.”
Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR, added: “The Barron family and the BPI team have built a resilient business with excellent products that are highly valued by customers. The acquisition of BPI accelerates Corza’s momentum and expands its attractive portfolio of growing products in ophthalmics, wound closure and biosurgery. We are excited to continue supporting Corza’s growth initiatives, investing in its strategic platforms and building out its portfolio with continued M&A.”
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com. Follow us on LinkedIn.
About Corza Medical
Corza Medical is a leading global manufacturer of innovative surgical technologies. With a global team of over 1,800 employees supporting clinicians, distributors and medical device companies worldwide, Corza provides healthcare professionals a platform of surgical technologies with industry-leading brands, including QuillTM barbed sutures, SharpointTM Plus and LookTM surgical sutures, KatenaTM and Blink Medical ophthalmic instruments, and the TachoSil® fibrin sealant patch. For more information, please visit www.corza.com.
About Barron Precision Instruments
Headquartered in Grand Blanc, Michigan, Barron Precision Instruments, LLC (BPI) is a privately owned company that has over 70 years of experience in the fabrication of sterile, disposable medical devices. The Company currently focuses primarily on manufacturing quality instruments for use in the surgical treatment of the human eye. For more information, please visit www.bpic.com.