Private equity firm Summit Partners has acquired Ximedica, Quartesian and Boston Healthcare Associates — rolling them into a new medtech service company called Veranex.
In its inaugural news release on June 16, the new Raleigh, N.C.–based company touted itself as the first concept-to-commercialization global service provider in medtech— with capabilities including design and engineering, regulatory, clinical, and market access.
The financial terms of the deal were not disclosed. Veranex’s leadership includes CEO David Dockhorn, whose 32 years of life sciences experience includes co-founding a full-service contract research organization sold to Carlyle in 1997 and integrated into PRA Health Sciences. In addition, executive chair Pat Donnelly has more than 25 years as a pharma services founder and executive, serving as CEO of Advarra until last year.
“We are thrilled to partner with Pat Donnelly, David Dockhorn, and the rest of the Veranex management team to help them execute on their vision of building a fully integrated design, development, and commercialization solution for the medtech industry,” said Darren Black, managing director at Summit Partners.
“This team has a demonstrated history of building leading clinical research businesses, and we look forward to supporting the Veranex platform through both organic and acquisition-driven growth,” Black said in the news release.
Dockhorn described Veranex as a comprehensive, international one-stop medtech service provider.
“We plan to continue building the platform organically and through acquisition in order to enhance our ability to help clients control costs and accelerate speed to market, all while mitigating development risk and delivering rapid global market viability assessments,” Dockhorn said.