Healthcare Industry News: LifeCell
News Release - August 22, 2006
HealthpointCapital Announces Purchase of BioHorizons Implant Systems, Inc.NEW YORK and BIRMINGHAM, Ala., Aug. 22 (HSMN NewsFeed) -- HealthpointCapital, LLC ("HealthpointCapital") announced today the purchase of BioHorizons Implant Systems, Inc. ("BioHorizons" or "Company"). BioHorizons designs, produces and distributes oral reconstructive devices including dental implants and tissue regeneration products. BioHorizons, located in Birmingham, Alabama, is one of the fastest-growing companies in the dental industry. Terms of the transaction were not disclosed.
"The dental implant market represents one of the fastest growing sectors in the medical technology industry," stated Mortimer Berkowitz III, President and Managing Director of HealthpointCapital. "Dental implants offer patients superior clinical outcomes and improved esthetics compared to traditional treatments such as bridges and dentures. BioHorizons has a legacy of providing superior product quality and unmatched clinical service."
Steve Boggan, President and CEO of BioHorizons, commented that, "We are extremely pleased with the outcome for our shareholders, employees and customers. Our management team is excited about the opportunity to partner with HealthpointCapital and expand our growth prospects in this attractive market."
Mr. Berkowitz becomes the Chairman of the Board and Mr. Boggan will continue as President, Chief Executive Officer and Director of the Company. BioHorizons plans to expand its headquarters in Birmingham and the management team will remain important shareholders.
First Albany Capital acted as exclusive financial advisor to BioHorizons in this transaction.
BioHorizons Implant Systems, Inc.
BioHorizons was founded in 1994 and has grown into one of the largest dental implant companies in the world with 112 employees. The Company has a strong product offering of dental implants including internal hex, external hex, overdenture and one-piece implants. BioHorizon's flagship External Implant System, a patented system of dental implants and related products, was launched in 1997. BioHorizons has signed exclusive distribution agreements with LifeCell Corp. and Osteotech, Inc. to market their allograft regeneration products to the dental community. The Company has a direct sales force in the U.S., Canada, Germany, Spain and United Kingdom. Products are distributed in the rest of the world via a network of independent distributors.
HealthpointCapital is a values-driven, research-based private equity firm focused on the orthopedic industry. The Firm's purpose is to capitalize upon the unique investment opportunity in orthopedics due to demographics and explosive growth of technology and innovation. HealthpointCapital has $500 million of institutional capital under management.
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