Biocoat Inc. (Horsham, PA), a developer of custom-engineered biomaterial coatings for medical devices, announced yesterday that it has been acquired by Philadelphia-based healthcare investment firm 1315 Capital. The transaction closed on Dec. 20, 2018.
The privately held 27-year-old company specializes in supplying lubricious hydrophilic coatings for medical devices to OEMs and contract manufacturers. The acquisition by 1315 Capital will assist Biocoat 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, said the company.
"We're excited about this merger and the financial support which 1315 Capital provides,” said Biocoat President and CEO Jim Moran. “The synergies between our management team and the team at 1315 Capital were clear from the start. 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,” said Moran
Biocoat specializes in supplying lubricious hydrophilic coatings for devices used in the neurovascular, cardiovascular, peripheral and ophthalmic markets. The company also sells diagnostic test kits in the reproductive market for use in male factor infertility.
Biocoat's Senior Director of Research & Development, Dr. Robert Hergenrother, will speak at SPE's Medical Plastics Minitec in Anaheim, CA, on Feb. 4, 2019. Biocoat also will be exhibiting at the co-located PLASTEC West and Medical Design & Manufacturing (MD&M) West event, also in Anaheim, on Feb. 5 to 7, 2019, at booth 1450.