Collagen Matrix Acquires Polyganics

The Investment Expands CMI's Regenerative Medicine Portfolio, R&D Capabilities and International Manufacturing Operations

OAKLAND, N.J., Oct. 5, 2022 /PRNewswire/ -- Collagen Matrix, Inc. ("Collagen Matrix"), a global leader in regenerative medicine and a Linden Capital Partners ("Linden") portfolio company, today announced the acquisition of Polyganics, B.V ("Polyganics").  Polyganics is a medical technology company that develops and manufactures bioresorbable medical devices. The acquisition expands Collagen Matrix's portfolio of bioresorbable solutions and technology platforms for bone and tissue repair, unlocking new markets and clinical opportunities for the Company.  

"We're laser focused on establishing Collagen Matrix as a global leader in regenerative medicine solutions," said Shawn McCarthy, CEO of Collagen Matrix. "Polyganics is our third acquisition since Linden's investment three years ago."

As a leader in collagen-based medical products, Collagen Matrix has established an innovation pipeline to meet the clinical needs of physicians across several verticals including dental, orthopedic, spine, dural repair, nerve repair, sports medicine, and advanced wound care. With the addition of Polyganics' versatile polymer platform, Collagen Matrix will enter ear, nose and throat (ENT) and general surgery while expanding its offerings for neurosurgery and peripheral nerve — and will have the opportunity to deliver products that bring benefits of collagen plus polymers.

"This transaction broadens our breadth of capabilities significantly with new processes, technologies and products," added McCarthy. "We add value to our customers immediately by meeting a wider range of clinical needs.  This transaction also fuels our innovation pipeline so we can continue bringing a number of new products to market each year." Continued Jeff Nelson, Chairman of the Board of Collagen Matrix and Linden Operating Partner, "We have the opportunity to redefine what's possible for regenerative medicine while making a meaningful difference in the lives of more patients around the world."

Polyganics' 75 employees will join the Collagen Matrix team, effective immediately, bringing Collagen Matrix's total employee count to more than 275 people across 5 sites globally including Polyganics' operations in The Netherlands.

"This transaction is testament to the value of Polyganics' portfolio of innovative bioresorbable medical devices," commented Rudy Mareel, CEO of Polyganics. "I am incredibly proud of the talented team we have brought together and the pioneering technology we have developed and championed. I have full confidence that Collagen Matrix is the right partner for us in the next phase of the Company's journey."

He continued, "this transaction will benefit both Polyganics' employees and clients, by providing the necessary resources to drive further growth and important new research programs. It will also bring value to the local region of Groningen, where we have had the privilege to grow our business, and the Zernike Campus, where we opened our new $25M state-of-the-art facility last year."

Linden Principal and Collagen Matrix Board Member, Joshua Reilly, added, "We couldn't be more excited to partner with the Polyganics organization. This acquisition advances the strategy we began with the GUIDOR® brand acquisition in 2020 to expand the range of technologies that we can offer to customers across a growing number of end markets."

Financials details of the transaction were not disclosed. Piper Sandler and Linklaters represented Polyganics, and DLA Piper and Kirkland & Ellis provided legal counsel to Collagen Matrix.  For more information about Collagen Matrix, visit collagenmatrix.com. 

About Collagen Matrix, Inc.
Collagen Matrix, Inc. is a developer and manufacturer of collagen-based medical products used for tissue and bone repair and regeneration. Founded in 1997, Collagen Matrix is headquartered in Oakland, New Jersey and develops proprietary products that are sold to OEM customers on either a contract or private label basis across orthopedic, sports medicine, spine, dental, and neurosurgery end markets. The company also offers partnership opportunities including distribution, contract product development, and contract manufacturing services. For more information, please visit www.collagenmatrix.com.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country's largest dedicated healthcare private equity firms. Linden's strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 200 total transactions. The firm has raised over $6.5 billion in limited partner commitments since inception. For more information, please visit www.lindenllc.com.

About Polyganics
Polyganics is a medical technology company with multiple versatile polymer platforms. The company develops, manufactures and commercializes innovative bioresorbable medical devices that facilitate tissue repair and regeneration.

Polyganics' portfolio includes products developed in-house and in collaboration with leading medical technology companies and academic centers of excellence, and marketed products in the fields of Ear, Nose & Throat (ENT) surgery with NASOPORE®, HEMOPORE®, NASOPORE®-FD, OTOPORE; Peripheral Nerve Repair (PNR) and Neurosurgery: VIVOSORB®, for minimizing unwanted tissue adhesions after surgery; NEUROLAC®, for supporting PNR following surgery of the extremities; NEUROCAP®, for managing symptomatic end-neuromas; and LIQOSEAL®, a dura sealant patch for effectively controlling cerebrospinal fluid leakage. Products in development include ACTISEAL®, a Liver and Pancreas Sealant Patch in the field of General Surgery.

Polyganics is based in Groningen, The Netherlands. The Company is ISO 13485-certified, and its products have received clearance from the US FDA, CE-approval, and approval from the China NMPA (CFDA) and other international authorities. Polyganics' polymer platform technologies are protected by a broad portfolio of patents.

SOURCE Collagen Matrix