Medical device firm secures investment to accelerate global expansion
A medical device company has secured investment from the owner of the developer of Ozempic and a private equity firm, to further expand internationally.
Biocomposites is a Staffordshire-based medical device company specialising in infection management for bone and soft tissue.
TA Associates, (Biocomposites’ majority shareholder since 2017), will reinvest in the company alongside new investor Novo Holdings and Biocomposites’ management. The transaction gives TA and Novo Holdings shared control of Biocomposites.
Novo Holdings is the controlling shareholder of Novo Nordisk A/S, the pharma company which makes drugs Ozempic (for Type 2 diabetes) and Wegovy (for weight loss). Novo Nordisk A/S is currently the biggest company in Europe by market cap.
Biocomposites develops calcium-based medical products, including its flagship product STIMULAN – the only approved antibiotic carrier for bone and soft tissue infections, which was used in over 150,000 patients globally in 2024.
As part of the deal, Henrik Kjær Hansen and Christian Salling, both senior partners at Novo Holdings, will join the Biocomposites board of directors.
Since partnering with TA in 2017, Biocomposites has seen revenue triple, completed two acquisitions, boosted its international presence and created new products.
Henrik Kjær Hansen, senior partner at Novo Holdings said: “We are thrilled to partner with Biocomposites and TA in this exciting new chapter for the Company. Biocomposites’ innovative solutions in infection management align perfectly with our broader portfolio of life sciences investments, and we firmly believe in the Company’s tremendous growth potential.
“With our deep expertise in life sciences and extensive global network, we look forward to supporting Biocomposites in expanding its international footprint, driving innovation, and advancing its ability to deliver highly effective and targeted infection management solutions that improve patient outcomes worldwide.”
Michael Harris, Biocomposites’ CEO said: “TA has been a fantastic long-term partner to us, and we are excited for the future alongside them and Novo Holdings. This investment is a significant validation of Biocomposites’ achievements so far and our future prospects for growth. With the combined expertise and support of these two leading global healthcare investors, we believe we are well positioned to deliver on our commitment to bring ever more innovative products for use in infection management to more people worldwide – transforming patient outcomes and improving their lives.”
Birker Bahnsen, managing director at TA said: “Since our initial investment, Biocomposites has established itself as a true pioneer in the infection management space. The Company has consistently demonstrated its ability to scale internationally while building out a diversified product portfolio that aligns with growing market demand and meets evolving patient needs. It has been a true privilege to take part in Biocomposites’ journey thus far, and we look forward to collaborating closely with the management team and Novo Holdings on this next stage of its growth.”
Financial terms of the transaction were not disclosed.
Jefferies International Limited acted as the exclusive financial advisor to TA and Biocomposites. Goodwin Procter LLP served as legal counsel to TA and Biocomposites.
Kirkland & Ellis International LLP and Linklaters LLP acted as legal advisors to Novo Holdings.
Alvarez & Marsal provided Financial and Tax Vendor Due Diligence for Biocomposites, Squire Patton Boggs (UK) LLP (legal), KPMG LLP (UK) (tax) and Jamieson Corporate Finance (management advisory) acted for Biocomposites Management.
