Jan 16, 2019, 07:30 ET
HORSHAM, Pa., Jan. 16, 2019 /PRNewswire/ -- Biocoat, Inc., (Biocoat) a 27-year old privately held company, announced today that it has been acquired by 1315 Capital, a Philadelphia-based healthcare investment firm that provides expansion and growth capital to commercial-stage healthcare services, medical technology, and specialty pharmaceutical companies. The transaction closed on December 20, 2018.
The acquisition of Biocoat by 1315 Capital will assist the Company in taking a more aggressive and growth-oriented approach in the biomaterial coatings market for medical devices, a market projected to reach over $15 billion by 2021.
"We're excited about this merger and the financial support which 1315 Capital provides. The synergies between our management team and the team at 1315 Capital were clear from the start," said Jim Moran, President and CEO of Biocoat. "Their investment and operating teams bring an outstanding track record of providing strategic support and expertise, thereby enabling Biocoat to pursue a more aggressive approach to the market."
Biocoat specializes in supplying lubricious hydrophilic coatings for medical devices used in the neurovascular, cardiovascular, peripheral, and ophthalmic markets to original equipment manufacturers and contract manufacturers.
"Biocoat's combination of differentiated technology within an expanding market and growth-focused management team makes it a great fit for 1315 Capital and we're excited to be working with Jim and his team," stated Michael Koby, Co-Founding Partner, 1315 Capital.
Scott Cramer, Chairman of Biocoat added, "Biocoat's HYDAK® technologies offer extremely low particulate counts, high lubricity, and low friction, and this merger allows Biocoat to further increase research and development efforts, while expanding the operating model to serve a broader range of customers."
Biocoat's Senior Director of Research & Development, Dr. Robert Hergenrother, will speak at SPE's Medical Plastics Minitec in Anaheim, CA on February 4, 2019. Biocoat will also be exhibiting at MD&M West in Anaheim, CA on February 5-7, 2019, at booth 1450. For more information on Biocoat, visit www.Biocoat.com.
About Biocoat, Inc.
Biocoat, Inc. develops and licenses biomaterial coatings for medical devices that are custom engineered to meet specific clinical parameters. The company specializes in supplying lubricious hydrophilic coatings for medical devices to original equipment manufacturers and contract manufacturers. Biocoat is able to recommend contract coaters or to provide in-house coating services to aspiring medical device companies that need help with manufacturing. The company also sells diagnostic test kits in the reproductive market for use in male factor infertility. Visit http://www.Biocoat.com or connect on Twitter (@Biocoat1) and LinkedIn.
About 1315 Capital
1315 Capital is a healthcare investment firm with over $500 million under management that provides expansion and growth capital to commercial-stage healthcare services, medical technology, and specialty pharmaceutical companies. 1315 Capital leverages experienced investors and proven operating teams to work alongside portfolio company management to rapidly grow platform companies into high value businesses that positively impact patients, physicians, and the broader healthcare system. For more information, visit www.1315capital.com.
SOURCE Biocoat, Inc.
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