RoundTable Healthcare Partners has entered into an agreement with Becton Dickinson to acquire the ophthalmic systems unit, a business within the BD medical segment.
BD is a medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents.
The transaction is expected to be completed by 30 September 2010 subject to customary closing conditions, including consultations and regulatory approvals. Financial terms of the agreement were not disclosed.
The investment 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 acquisition of the ophthalmic systems business unit represents a highly strategic opportunity for RoundTable," says 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."