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Waltham, MA, April 5, 2013 — Beaver-Visitec International, Inc. ("Beaver-Visitec" or "BVI"), a global leader of high-quality and world renowned brands for ophthalmic and specialty microsurgical procedures, announced today the purchase of the Ophthalmic assets from Odyssey Medical, Inc. ("Odyssey"), a leader in dry eye solutions. BVI is a portfolio company of RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry.
"We are excited to bring Odyssey to our customers as a part of the Beaver-Visitec family. We are committed to providing high-quality single use products with the performance and precision clinicians expect. For over 80 years, BVI has been known to offer a portfolio of premium brands, all with a longstanding tradition of precision, innovation and quality. Odyssey is a perfect fit with our goal to continually expand our offerings with products that meet or exceed our customers' standards," said Tom Kapfer, CEO of BVI.
"BVI and Odyssey both believe in offering the best products to our customers. Odyssey's Parasol® brand reflects this belief and is the most trusted and recognized brand of punctal occluders. This shared value is what attracted us to BVI," added Barbara Tatge, a former owner of Odyssey who will be joining BVI. "I look forward to having our customers join an amazing team of dedicated professionals who specialize in providing the best in ophthalmology."
Financial terms of the transaction were not disclosed. BVI was represented by its legal counsel, Sidley Austin LLP, in the transaction.
Based in Waltham, Massachusetts, USA, Beaver-Visitec International is a global manufacturer, developer and marketer of ophthalmic and other specialty microsurgical products, They offer products and services for all aspects of Ophthalmic Surgery, including Cataract, Refractive, Oculoplastic, and Vitreoretinal sub-specialties with highly trusted brands such Beaver®, Visitec®, CustomEyes® kits, Readypak™ kits, Visc™, MultiVisc™, Aqueo Premium™Balanced Saline Solutions, OcuSeal® liquid ocular bandages, Merocel®and Weck-Cell ® fluid control products and Wet-Field® Eraser® electrosurgery products.
Beaver-Visitec is distributed in over ninety countries worldwide with a sales force recognized throughout the industry for their clinical expertise and outstanding customer service. With manufacturing locations in different part of the world, including in the US and in the UK, BVI maintains ISO-9001 and ISO-13485 certified quality standards for its FDA-registered manufacturing plant, with the UK facility acting as the authorized EU representative for CE mark purposes.
More information about Beaver-Visitec can be found at www.beaver-visitec.com.
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare 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 $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling $400 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.
Odyssey Medical is a certified ISO 13485 company specializing in design, development and manufacturing of medical devices and related instrumentation.
Gary Tatge and Barbara Tatge founded Odyssey Medical, Inc. in 1995 in Memphis, Tennessee. In 1997, the company received a patent for the Parasol® Punctal Occluder which became the first product marketed under the Odyssey label. This highly differentiated implant entered the ophthalmic market in April 1998 and now serves as a market leader.
More information about Odyssey Medical can be found at www.odysseymed.com.
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