Healthcare business strengthens with private equity deal

Biocomposites, a Staffordshire-based business which makes synthetic calcium, has strengthened its financial position after agreeing a deal for investment from private equity firm TA Associates.

The terms of the deal were not disclosed but TA said it will “focus on supporting Biocomposites’ growth and building further value in the business”.

TA typically supports buyouts and funding deals of profitable growth companies in five sectors, including healthcare.

Keele-based Biocomposites develops innovative calcium compounds for surgical use. Its bone graft matrices can be used in the presence of infection for regenerating bone and managing dead space in a range of orthopedic procedures.

The company sells directly to hospitals and through independent distributors, with the US representing its largest market.

Research, manufacturing and distribution is handled in-house at the company’s Keele headquarters and it has sales representative offices in Wilmington, North Carolina and Shanghai, China.

Latest company accounts available show the company made a pre-tax profit of £7.9m on a turnover of £15.7m in the year to the end of December 2015.

Jonathan Boyers of KPMG in Manchester advised Biocomposites on the deal.