Getinge’s subsidiary, Atrium Medical will divest its biosurgery business to HJ Capital 1, the parent company of SeCQure Surgical for an undisclosed sum. The deal is expected to close sometime in 4Q18.
Göteborg, Sweden-based Getinge added the biosurgery unit to its therapeutic portfolio when it acquired Atrium Medical for $680 million in 2011. The business had about $14.2 million in sales in 2017.
The firm said the biosurgery business is dedicated to the development of biological, mechanical and therapeutic solutions for soft tissue reinforcement following trauma, surgery and other interventional procedures.
Getinge’s biosurgery business has been a relatively small segment within its overall portfolio and the only therapeutic asset in the general surgery field. The divestment is a strategic decision in order to focus on core therapeutic solutions.
The divestment includes all assets and liabilities relating to the biosurgery business but excludes the mesh product liability claims raised against Atrium Medical in relation to products sold prior to closing and also the associated insurance claims of Atrium Medical.