Strategic investor Water Street Healthcare Partners facilitated the deal between Lensahn, Germany–based Interlock and Eden Prairie, Minn.–based Key Surgical, investing in the newly combined company. The deal follows on Interlock’s purchase last year of U.K.-based Clinipak.
Financial terms of the deal were not disclosed.
The new company – under which Interlock, Key Surgical and Clinipak will continue to operate under their existing brand names – has a customer base of nearly 10,000 hospitals and surgical centeres around the world. The employee count of the new company ranges between 300 and 600, based on the 3 companies’ respective LinkedIn pages.
“It’s clear that increasing numbers of hospitals are investing in infection prevention and patient safety initiatives. The combination of Interlock, Clinipak and Key Surgical creates a strong and extensive global platform for us to build on. We plan to work together to invest in the company’s infrastructure and pursue acquisition opportunities that will strategically expand our product portfolio and geographic footprint,” Key Surgical CEO Scot Milchman said in a news release. Milchman will serve as CEO of the new company.
The merger brings together 3 “highly respected, high-quality brands that are market leaders in their respective countries,” said Gerhard Baum, an Interlock co-founder who will remain with the new company.
“As one entity, Interlock, Clinipak and Key Surgical will be the only global organization dedicated to providing hospitals with products and supplies that support their goals for surgical and patient safety,” Baum said. “In addition, our partnership with Water Street will allow us to gain access to a highly regarded team with deep medical product and distribution expertise and a network of resources to support our growth.”
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