Accentus Medical Announces Completion of Management Buyout
9/24/2013 8:57:39 AM
Oxford, UK, 23 September 2013 … Accentus Medical, a global leader in silver-based anti-microbial implant surfaces, has announced today the successful completion of a management buyout.The buyout was delivered through a combination of investment from the incumbent management team, and a spectrum of private investors with knowledge and expertise in the implantable medical device market and advanced materials sector. The buyout transaction eliminates historic debt and provides the company with fresh equity investment to take forward the business plan.
The company continues to make good progress in commercialising Agluna®, an innovative surface technology that harnesses the anti-microbial properties of silver ions in preventing device related infection, and in international growth of its Acusure® plasma spray coatings for implant fixation.
Brian Howlett, Board Chairman, said “I am delighted by the success of the buyout led by the executive management team, and to have the opportunity to chair the company board under the new ownership structure. I look forward to supporting the management in furthering the very positive progress that they have made in building a strong commercial platform, and to help secure value growth for the new investors.”
Philip Agg, Chief Executive Officer, said “I am looking forward to reinforcing and exploiting our position as the globally recognised leader in silver anti-microbial implant surfaces. The new ownership structure provides the company with an excellent network of investors with a passion for, and track record in building strong, successful businesses in our target markets and technology sector.”
Agluna® was launched seven years ago in the custom orthopaedic limb salvage market and clinical studies have indicated Agluna®’s efficacy in substantially reducing the incidence and severity of device related infection, making a difference to quality of life of patients and reducing the cost of hospital care.
James Armstrong, Business Development Manager, said, “Agluna® has given our initial licensee, Stanmore Implants Worldwide, significant commercial advantage in its market sector and we now look forward to developing the market further for this technology. We are not only on course to scale up in orthopaedics through our evolving commercial partnership with Zimmer, but also to scale out into an array of other medical device sectors such as dental, spinal, and cardiac. With a wide variety of implant devices that could benefit from the Agluna® anti-infective surface it is an exciting time for the Accentus Medical team.”
On Accentus’ Acusure® range of plasma spray titanium and hydroxyapatite coatings for fixation of devices with bone and soft tissue, Armstrong commented:
“Acusure® plasma coatings are in a strong market position, with our long established technology Masterfile and our status as a registered manufacturer with the FDA. We are building our customer base on the strength of having enabled a growing number of successful FDA regulatory applications for those international customers who have chosen to use our Acusure® coatings. We pride ourselves on our quality and service level, and under the new ownership structure we will continue to focus on this technology platform to give our current and growing customer base the best ‘cost vs. service’ option available in the market.”
For further information, please contact:
Katherine Granger, Tim Watson
T: +44 (0)20 7866 7855
About Accentus Medical
Accentus Medical is a global leader in delivery of innovative, silver-based anti-microbial surface treatments and biocompatible coatings on implantable medical devices. The company combines a long history of expertise in surface technologies, with dedicated research and development of new technologies for the medical device industry. Based at the historic Harwell Oxford campus, Accentus Medical has provided expertise in surface technologies to the orthopaedic device industry since the 1970s, serving major orthopaedic and medical device manufacturers worldwide.
The company has two principal technology platforms: Agluna® silver anti-microbial surface treatment for prevention and control of post-operative infection, and Acusure® plasma spray coating for improving biocompatibility and durability of implants. These technologies are supplied to customers at Accentus Medical’s ISO13485:2003 and ISO9001:2008 accredited facility. Accentus Medical is also very well known for the medical device testing programmes offered by its in-house test laboratories. Manufacturers have been utilising test results provided by the company for many years as part of device homologation files all over the world.
For further information, please visit: www.accentus-medical.com
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