RoundTable Healthcare Partners Enters Into Agreement With BD to Acquire Ophthalmic Systems Unit

Acquisition provides new ophthalmology platform for RoundTable

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Jun 08, 2010, 03:14 ET

LAKE FOREST, Ill., June 8 /PRNewswire/ -- RoundTable Healthcare Partners ("RoundTable"), an operating-oriented private equity firm focused exclusively on the health-care industry, announced today that is has entered into an agreement with BD (Becton, Dickinson and Company) to acquire the Ophthalmic Systems unit, a business within the BD Medical segment. BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The transaction is expected to be completed by September 30, 2010 subject to customary closing conditions, including consultations and regulatory approvals. Financial terms of the agreement were not disclosed.

The investment in the Ophthalmic Systems business unit will be the fifth platform from RoundTable's Fund II and the ninth in its current portfolio, joining five other medical device and three pharmaceutical entities. The Ophthalmic Systems product offering consists of well-established brand names, including Beaver™ blades and Visitec™ cannulas and instruments, with leadership positions in the single-use ophthalmic device marketplace. The unit's direct sales force in the United States and in Europe combined with its manufacturing operations in Waltham, MA and Bidford-on-Avon in the United Kingdom provide a significant infrastructure for future growth initiatives.

"The acquisition of the Ophthalmic Systems business unit represents a highly strategic opportunity for RoundTable," said Joseph F. Damico, Founding Partner and Co-Chairman of RoundTable. "The ophthalmology market is highly attractive and poised for growth with the aging demographics and the development of new technologies."

"Our confidence in consummating this transaction is the result of our unique operating model," said Lester Knight, Founding Partner and Co-Chairman of RoundTable. "RoundTable has unique in-house operating resources in sales, marketing, manufacturing, IT systems and human resources to carve out this business unit from BD and quickly establish it as a stand-alone entity. By working with our platform companies in this fashion, we position them for growth and make them stronger strategically which is key to generating superior investment returns."

About RoundTable Healthcare Partners

RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.1 billion in capital, including two equity funds totaling $900 million and a subordinated debt fund of $200 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.

SOURCE RoundTable Healthcare Partners