Avista Healthcare Partners Acquires EBI from Highridge Medical, Marking 50th Platform Investment
The acquisition marks the 50th platform healthcare investment for Avista and its founding members – underscoring the firm's long-standing commitment to building category-leading healthcare businesses. With a long track record of backing healthcare product and technology businesses and scaling them globally, Avista brings deep operational expertise and a differentiated ability to execute complex corporate carve-outs.
Headquartered in Parsippany, NJ, EBI is the pioneer of electrobiology innovations and has been leading the industry for over four decades with the largest portfolio of clinically proven, safe and effective implantable and non-invasive bone growth stimulation solutions to support bone regeneration and healing outcomes. EBI has the broadest bone growth stimulation technology and product portfolio and is the first and only company with both implantable and non-invasive, PMA-approved bone growth stimulation solutions to promote spinal fusion and fracture nonunion healing outcomes.
Kevin Kenny, an Avista Strategic Executive, joined EBI as Chief Executive Officer at closing. Kevin brings extensive experience in the medical device sector, having most recently served as President of the Global Spine segment at Orthofix Medical, where he led the global spinal implants, motion preservation, bone growth therapies, and biologics businesses.
"I am thrilled to be a part of EBI's next chapter as a standalone company. I am confident in EBI's ability to advance its leadership in bone healing technologies, driven by strategic initiatives and a relentless commitment to excellence. Our focus is clear as we position EBI as the most innovative leader in bone healing science — delivering solutions that improve patient outcomes," said Kevin Kenny.
Vincent Binetti, EBI's Chief Operating Officer said, "This transaction marks an important milestone in the EBI journey. We have come to know Kevin and the Avista team over the last several months and are excited about the numerous opportunities ahead of us as a standalone entity."
"EBI represents an attractive opportunity to acquire a leader in the bone stimulation category," said Garrett Lustig, Principal at Avista. "Given our track record of successful corporate carve-out transactions, we believe we are well-positioned to support EBI's growth initiatives. We look forward to working with Kevin and the EBI team to unlock the company's full potential and execute on many compelling opportunities."
Ropes & Gray LLP acted as legal advisor to Avista.
About Avista Healthcare Partners
Founded in 2005, Avista Healthcare Partners is a leading New York-based private equity firm with over $9 billion invested in 50 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – targeting healthcare product and technology businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, long-term value and sustainable businesses. For more information, visit www.avistahealthcare.com or follow Avista on LinkedIn.
About EBI
For over 45 years, EBI has been at the forefront of electrobiology innovations, offering the largest and most robust portfolio of clinically proven implantable and non-invasive bone growth stimulation solutions. As now the only pure-play bone growth stimulation company, EBI provides unique technologies and products that specifically target the challenges faced with nonhealing fractures and high-risk spinal fusion patients. Since its pioneering product launch in 1979, EBI has been leading in the industry in bone growth stimulation innovation. For more information, visit www.ebibonestimulator.com.
For media inquiries, please contact:Daniel Yunger / William HallidayKekst CNCdaniel.yunger@kekstnc.com / william.halliday@kekstcnc.com917.574.8582 / 917.842.2709
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