EQT Mid Market US fund has acquired a majority stake in the company Clinical Innovations.
Financial details of the deal were not immediately disclosed.
Clinical Innovations recently expanded its product portfolio to serve the neonatal intensive care unit. Headquartered in Salt Lake City, it develops products like the Kiwi vacuum-assisted delivery system and Koala intrauterine pressure catheter. The company is currently working on developing state-of-the-art technologies and innovative medical devices that help improve the lives of mothers and babies.
“We are eager to partner with EQT as we continue to develop our L&D and NICU strategy that we have executed over the past several years” said Ken Reali, president and CEO of Clinical Innovations. “EQT is an ideal fit for Clinical Innovations and our continuing growth. EQT’s relationships, global presence and philosophy fit well with the Company culture and our strong commitment to delivering excellent products to clinicians to care for mothers and their babies.”
Clinical Innovations’s manufacturing facility is also ISO 13485 certified and currently employs 165 full-time employee while serving more than 80 countries.
“We look forward to supporting Clinical Innovations’ CEO Ken Reali and his team through their next phase of growth. The Company’s portfolio of innovative and high-growth new products, combined with an impressive global sales organization, has enabled it to become a market leader within L&D,” Bredan Scollans, partner at EQT Partners and investment advisor to EQT Mid Market US, said. “EQT’s healthcare expertise and global presence will help the Company continue accelerating its international expansion and the broadening of its of best-in-class L&D and NICU product set through acquisitions.”