Avista Healthcare acquires Bentec Medical

Avista Healthcare Partners has acquired Bentec Medical from Greyrock Capital Group and Hermitage Equity Partners, marking a strategic expansion in the medical device manufacturing sector. Financial details of the transaction were not made public, but the move signifies Avista's commitment to broadening its portfolio within the healthcare investment landscape.

Founded in 1994 and based in Woodland, California, Bentec Medical specializes in developing complex silicone components for original equipment manufacturers (OEMs) in the medical device sector. Bentec's offerings include a range of proprietary products used in areas such as ENT, oncology, and neonatal care. The company has established itself as a reliable supplier to major medical institutions, leveraging its expertise in silicone applications and proprietary manufacturing processes to maintain strong client relationships.

New York-based Avista Healthcare Partners, a private equity firm, intends to fuel Bentec's future growth through investments in innovation, increasing production capacities, and exploring geographic expansion. Additionally, Avista aims to support Bentec's strategic acquisitions to enhance its capabilities. Avista has historically invested over $10 billion in more than 50 healthcare businesses, underscoring its depth of experience in this sector.

The transaction also involves Greyrock Capital Group, which has owned Bentec since 2016. Greyrock will remain a supporter of Bentec under Avista's ownership, reflecting a continued belief in the company's potential. Financial advisory services for the deal were provided by Piper Sandler for Bentec, with legal advice from McGuireWoods. Avista was advised by Willkie Farr & Gallagher.

Looking forward, the acquisition positions Bentec to leverage Avista’s strategic expertise and investment capacity to further its market position. However, specifics regarding any potential regulatory considerations or closing conditions remain undisclosed. The partnership is poised to advance Bentec's operational scale, fulfilling its ambition to offer enhanced value to its customers.