Latest news with #TerryMeredith
Business Wire
07-07-2025
- Business
- Business Wire
Two Strategic Acquisitions, Establishes Leading Manufacturer
WAYNE, Pa.--(BUSINESS WIRE)--Inverness Graham, a Philadelphia-based buyout firm focused on acquiring innovative companies where technology is transforming traditional industry, announced today that its single-use surgical products manufacturer, Innovia Medical ('Innovia'), has closed on two strategic acquisitions in Grace Medical and Hurricane Medical. These transformative acquisitions accelerate Innovia's strategic vision of building a vertically integrated manufacturer of physician-preferred, consumable surgical products specializing in Ear, Nose and Throat ('ENT') and Ophthalmic procedures, as well as sterile processing systems. Based in Memphis, TN, Grace Medical is a leading manufacturer of single-use surgical implants, instruments and related consumable products for ENT procedures. The company's robust in-house manufacturing capabilities, deep physician relationships and proprietary product portfolio – supported by over 20 patents – position the combined business for sustained growth in its ENT activities. Based in Bradenton, FL, Hurricane Medical is a leading manufacturer of single-use ophthalmic surgical products and instruments used in virtually every type of ophthalmic surgery. With a purpose-built, automated production facility, Hurricane Medical adds significant scale, efficient manufacturing capabilities and potential for accelerated growth for Innovia's ophthalmology business. 'The additions of Grace Medical and Hurricane Medical represent a truly exciting milestone in Innovia's journey and will be transformational to the growth of the combined business,' said Aliya Khaydarova, Managing Principal at Inverness Graham. 'Grace Medical and Hurricane Medical meaningfully expand Innovia's presence in the attractive ENT and ophthalmic markets, enhance the overall product portfolio and manufacturing capabilities, and unlock synergy opportunities with current and new customers. We look forward to supporting the combined team as they integrate and continue to drive accelerated growth.' 'We are thrilled to welcome Grace Medical and Hurricane Medical to the Innovia family,' said Terry Meredith, CEO of Innovia Medical. 'Both companies bring clinically differentiated, trusted products and strong customer relationships that align with Innovia's focus on providing innovative, physician-preferred solutions. The combination of our three businesses is an exciting step forward as we enhance our offerings to ENT and ophthalmic surgeons around the world.' Faegre Drinker Biddle & Reath served as legal counsel and Robert W. Baird as exclusive financial advisor to Inverness Graham. Terms of the transaction were not disclosed. About Inverness Graham Inverness Graham is a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry. The firm's Flagship strategy focuses on high-growth businesses in Healthcare, Tech-Enabled Services / Software and Advanced Manufacturing. The firm's Green Light strategy targets tech-enabled businesses where Environmental Sustainability is a key driver of accelerating growth. Inverness Graham executes a differentiated, repeatable model for value creation through its proprietary Strategic Platform Build approach. Founded by senior executives of the Graham Group, the firm builds upon a 60-year legacy of operational excellence, bringing substantial value creation resources and an innovative mindset to support its portfolio company partners.
Business Wire
02-07-2025
- Business
- Business Wire
Innovia Medical Advances Strategic Vision with Acquisitions of Grace Medical and Hurricane Medical
ST. PAUL, Minn.--(BUSINESS WIRE)--Innovia Medical, a global medical device company focused on specialty surgical products, announced today the acquisitions of two well-respected specialty medical device companies: Grace Medical, a global leader in Ear, Nose, and Throat (ENT) solutions, and Hurricane Medical, a trusted provider of Ophthalmic surgical products. These acquisitions mark a pivotal milestone in Innovia Medical's continued growth, reinforcing its commitment to building a globally integrated platform of specialty surgical solutions. By uniting distinct areas of expertise and synergistic product portfolios, Innovia Medical is expanding its clinical reach and strengthening its ability to support healthcare providers and patients worldwide. 'Grace Medical and Hurricane Medical have each built strong reputations within ENT and Ophthalmology, and we are proud to bring their expertise and talent into the Innovia Medical family,' said Terry Meredith, CEO of Innovia Medical. 'Grace Medical brings a leading portfolio of highly specialized ENT products that address complex surgical needs, while Hurricane Medical adds a complementary range of Ophthalmic solutions, backed by strong manufacturing capabilities and a deep commitment to customer service. Together, these additions strengthen our ability to deliver comprehensive, high-quality solutions that empower clinicians, improve patient care, and advance our vision for specialty surgical innovation.' Grace Medical, headquartered in Memphis, TN, brings a strong portfolio of advanced ENT technologies and a legacy of clinical leadership. 'We look forward to expanding our ENT presence with Innovia Medical and continuing to service ENT customers around the world,' said Murray Beard, CEO of Grace Medical. Michael Crook, President, Chief Operating Officer of Grace Medical, will lead the strategic direction of the ENT division at Innovia Medical. Reflecting on the partnership, he shared: 'Joining forces with Innovia Medical brings together two highly complementary organizations – creating a world-class ENT platform with the scale, expertise, and product depth needed to better serve specialists and advance patient care.' Hurricane Medical, based in Bradenton, FL, is a respected provider of high-quality Ophthalmic surgical solutions. 'We see a tremendous opportunity to grow Hurricane Medical's product coverage through Innovia Medical's commercial reach and global infrastructure,' said Dell Bauslaugh, President of Hurricane Medical. 'We are excited for what this means for our customers and our team.' Customers and partners can expect continuity in operations, with the same sales and service contacts remaining in place. The integration of these organizations is expected to result in enhanced capabilities, increased resources, broader product portfolios, and a shared commitment to delivering outstanding outcomes for patients and clinicians alike. Innovia Medical and its long-term growth strategy are backed by private investment firm Inverness Graham Investments. About Innovia Medical Innovia Medical is a global medical device company that designs, manufactures, and distributes specialty surgical products focused on improving patient outcomes. Innovia Medical supports a diverse range of specialties including ENT, Ophthalmology, Plastic Surgery, Gynecology and Sterile Processing. For more information, please visit: About Inverness Graham Inverness Graham is a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry. The firm's Flagship strategy focuses on high-growth businesses in Healthcare, Tech-Enabled Services / Software and Advanced Manufacturing. The firm's Green Light strategy targets tech-enabled businesses where Environmental Sustainability is a key driver of accelerating growth. Inverness Graham executes a differentiated, repeatable model for value creation through its proprietary Strategic Platform Build approach. Founded by senior executives of the Graham Group, the firm builds upon a 60-year legacy of operational excellence, bringing substantial value creation resources and an innovative mindset to support its portfolio company partners. For more information, please visit:
