Cousin Surgery, a leading implantable medical device company, has successfully completed the acquisition of PlantTec Medical, a prominent German surgical medical device firm specializing in hemostatic and adhesion prevention solutions.
PlantTec Medical is the first company in the world to CE-certify a plant-based product for surgery that not only effectively stops surgical bleeding, but also substantially prevents postoperative tissue adhesions. The polysaccharide-based product 4DRYFIELD® has been used more than 350,000 times in surgical procedures. Their innovative solutions are currently sold in over 30 countries in hospitals and clinics worldwide through distributors and through an established direct salesforce in Germany.
Cousin Surgery is a french group specialized in implantable medical devices with a longstanding industrial expertise. Today, the company is a recognized as a specialist in implantable textiles and their application to spine and visceral surgery.
Private equity healthcare specialist fund of Turenne Group, Capital Santé 2, with his co-investors – Nord Capital Investissement, Sélection & Opportunités (Turenne Group), Dalle & Associés and Altur Investissement – and the Management have funded Cousin Surgery in its acquisition of PlantTec Medical.
The acquisition of PlantTec Medical will create immediate cross-selling opportunities and drive R&D innovation for Cousin Surgery. “PlantTec Medical provides us with an exceptional team possessing deep expertise in delivering surgical medical device solutions for patients especially in Germany,” say Cousin Surgery’s CEOs, François Tortel and François Henin. “This acquisition significantly expands our high-quality portfolio, addressing the needs of physicians and patients in vascular, gynecological, orthopedic, and general surgery. It’s a perfect fit for us.”
In a strategic move, PlantTec Medical’s founders and CEOs, Ellen and Joachim Laas, will not only remain in the company but also invest in the group. “This deal propels 4DRYFIELD® and PlantTec Medical to the next level of global growth,” they state.
Raquel Pires and Benoît Pastour, Executive Director and Managing Director at Turenne Capital, expressed their pride in the strategic transaction with PlantTec Medical. “We’ve closely monitored the company’s growth over the past years and recognize its full potential, driven by a talented management team that we are thrilled to work with now.”
Edouard Nuttin, CEO, and Jean-Bastien Bloch, Investment Manager at Roquette Ventures, commented: “We’re proud to have supported PlantTec Medical and its management team in their remarkable growth since its inception. This journey, aligned with Roquette Ventures’ approach, has resulted in significant geographical expansion and impressive commercial traction. We’re pleased to see PlantTec Medical join an ambitious new project and are excited about the opportunities and synergies with Cousin Surgery. We wish Ellen and Joachim Laas, and their team all the success they deserve in this new venture.”
Dr. Edouard Gobitz, Managing Partner Asklepios Advisors, Healthcare Investment Bank added: “Our firm is proud to have supported Roquette Ventures & PlantTec Medical founders. This transaction demonstrates Asklepios Advisors commitment to supporting healthcare clients over the long term in all stages of their development”.
Asklepios Advisors served as Roquette Ventures and PlantTec Medical’s exclusive financial advisor, with Osborne Clarke as the legal advisor for the seller.
Kroll (finance, tax due diligence), McDermott Will Emery (legal, social due diligence) and Lamartine Conseil (legal advisor for financing) supported the buyer. The existing pool of banks, Crédit Agricole Mutuel Nord de France, CIC Nord Ouest and Caisse d’Épargne Hauts-de-France, contributed to the financing of the acquisition.