Company will partner with best-in-class operators and leverage deep expertise to build a leading medical materials platform
NEW YORK–(BUSINESS WIRE)–JLL Partners (“JLL”) today announced it has entered into a partnership with Bart Doedens, a highly regarded and accomplished leader in the biomedical industry, to form Renovo Health, Inc. Renovo Health seeks to buy, build, and develop materials technologies to provide a platform for improved efficacy across a spectrum of medical and dental procedures while offering an opportunity for near-term expansion. Renovo Health will focus on partnering with existing best-in-class operators, leveraging its deep expertise and organizational capabilities to facilitate organic growth as well as through the development of complementary offerings, operational improvement initiatives, and strategic mergers and acquisitions. JLL Partners has initially committed $100 million to capitalize Renovo Health and fund future acquisitions, with additional capital available to pursue its growth strategy.
“I am thrilled to partner with JLL to build Renovo Health into a preeminent platform that can fundamentally improve people’s lives,” said Mr. Doedens. “Every year, millions of people undergo procedures for both acute and chronic conditions in a wide range of therapeutic applications, for which utilizing the right medical materials can ensure fast and fulsome recuperation. These products also support healthy living and proactive care by enabling targeted drug delivery, pain management, cosmetic treatments, and more. By bringing together management’s sector knowledge, JLL’s track record of building transformational healthcare businesses, and the wide breadth of materials technologies and solutions available in the current marketplace, Renovo Health is ideally positioned to lead the next phase of growth in the industry.”
With more than 30 years of experience in the biomedical industry, Mr. Doedens most recently served as CEO of Collagen Matrix, an innovative manufacturer of collagen and mineral based medical devices to support tissue repair. Mr. Doedens led all facets of the company’s strategic expansion and business development, and made significant investments to enhance its people, processes, and systems. Previously, Mr. Doedens served as President of Biomet 3i, a global leader in the manufacturing and marketing of surgical products, including those used in bone healing, biologics, and dental reconstruction. Prior to Biomet 3i, Mr. Doedens was Vice President of Sirona Dental Systems and President and CEO of Atlas Spine.
“We firmly believe underlying demographic and healthcare trends, coupled with the increasing sophistication and applications for materials technologies, provide a strong backdrop for this endeavor,” said JLL Managing Director, Dan Agroskin. “Bart has proven time and again to be an exceptional leader, with the industry expertise and strategic vision requisite to back and build a market leading platform that is defined by its commitment to quality, technical differentiation, innovation, comprehensive scale, and customer service.”
About JLL Partners
JLL Partners is a middle market private equity firm with over three decades of experience transforming businesses in the healthcare, specialty industrials, and business services sectors. The firm is dedicated to partnering with companies that it can help build into market leaders through a combination of strategic mergers and acquisitions, organic growth initiatives, and operational enhancements. The JLL Partners team is comprised of seasoned investment professionals and operating partners who are focused on driving long-term value creation across its portfolio. Since its founding in 1988, JLL Partners has committed over $5 billion of equity capital across eight private equity funds, with over 50 platform investments and more than 190 add-on acquisitions. For more information, please visit http://www.jllpartners.com.
Contacts
For additional information please contact:
Johanna Doherty
JLL Partners
212-210-9390
j.doherty@jllpartners.com