Biocoat Acquires Chempilots to Expand its Biomaterial Platform

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Jul 11, 2023, 08:30 ET

HORSHAM, Pa., July 11, 2023 /PRNewswire/ -- Biocoat Incorporated, a specialty manufacturer of hydrophilic biomaterial coatings and coating equipment for medical devices, announced today that it has acquired Chempilots, a European provider of specialty polymers and production services to the medical device industry.

The transaction expands Biocoat's biomaterial platform offering in alignment with its strategy to enable medical innovation by providing a comprehensive portfolio of customized biomaterial solutions. Joining Biocoat allows Chempilots to further advance their leading polymer development programs and provides access to additional markets.

Chempilots, located just north of the Danish capital of Copenhagen, is a pioneer in applied polymer chemistry. In addition to supplying specialty polymers to current customers, the team has a special focus on polymerization techniques to enable the development, scaling, and manufacturing of biomaterials, such as hydrogels, for various medical device applications.

"We are delighted to expand our biomaterial solutions platform by joining two companies that are built on the foundation of long-term partnerships with their current and future customers," said Jim Moran, President and CEO, Biocoat. "Both Biocoat and Chempilots supply leading medical device companies with unique chemistry products and components to support their product development. Both companies have built industry-leading customer service models that feature dedicated and expert staff focused on finding unique solutions to solve their customers' most challenging requirements."

Kim Sander Pedersen, CEO, Chempilots, said, "We are excited to be part of a client-focused team that is building a unique solution for companies in need of specialized biomaterial solutions."

Chempilots represents the first add-on acquisition since GTCR invested in Biocoat in November 2022. This transaction furthers the company's strategy to build a leading provider of biocompatible medical coatings and adjacent specialty polymer products and services, oriented around high-growth interventional medtech end markets.

About Chempilots
Founded in 1957, Chempilots is a pioneer in applied polymer chemistry, and was founded on a passion for solving complex issues within each phase of polymer development for the medical device and pharmaceutical industries. The Chempilots team is dedicated to helping customers reach that success through custom polymer development, from research to finalization. To learn more about Chempilots, visit www.chempilots.com or connect on LinkedIn.

About Biocoat Incorporated
Biocoat Incorporated is a full-service coatings provider specializing in supplying lubricious hydrophilic coatings custom engineered to meet specific clinical parameters for medical devices to original equipment manufacturers, start-up companies, and contract manufacturers. Biocoat also provides coating services and equipment to companies requiring assistance with medical device manufacturing. To learn more about Biocoat, visit www.biocoat.com, or connect on LinkedIn and Twitter.

About GTCR

Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages over $27 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. For more information, please visit www.gtcr.com or follow us on LinkedIn.

SOURCE Biocoat, Inc.