H.I.G. BioHealth Partners Completes Sale of Vertiflex to Boston Scientific

MIAMI–(BUSINESS WIRE)–#DecompressionSystem–H.I.G. BioHealth Partners (“H.I.G.”), the dedicated healthcare
investment affiliate of H.I.G. Capital, a leading global private equity
investment firm with over $30 billion of equity capital under
management,* recently announced the sale of Vertiflex, Inc. (“Vertiflex”
or the “Company”) to Boston Scientific (NYSE: BSX), a global leader in
medical technology, for a total equity value of approximately $465
million in cash and additional payments contingent on the Company
attaining certain commercial goals.

Founded in 2005 in Carlsbad, CA, Vertiflex is a leading innovator of
advanced, minimally invasive interventions for spinal stenosis and has
developed and marketed the Superion® Indirect Decompression System, a
minimally-invasive device used to improve physical function and reduce
pain in patients with lumbar spinal stenosis (LSS).

Earl Fender, VertiFlex CEO commented, “H.I.G. was an ideal partner with
which to execute on our growth strategy. Their collaborative operational
approach, unique resources and deep experience helped drive the success
of the Company’s commercial efforts and an outstanding outcome for all
involved.”

Michael Wasserman, Ph.D., an H.I.G. Managing Director and former
Vertiflex board member, said, “The successful sale to Boston Scientific
is a testament to the synergy realized between investors and management
to provide broad access to VertiFlex’s novel and clinically valuable
products which have tremendous benefits to patients, physicians and the
healthcare system as a whole. We look forward to watching the Company’s
future success as they improve the quality of life for many patients
suffering from LSS.”

About H.I.G. BioHealth Partners

H.I.G. BioHealth Partners is the dedicated life-science investment
affiliate of H.I.G. Capital. H.I.G. BioHealth Partners invests in a
broad range of healthcare opportunities across sectors and stages,
principally in companies developing therapeutic drugs, medical devices,
and diagnostics for significant unmet medical needs. With approximately
$400 million in committed capital, H.I.G. BioHealth Partners invests $5
million to $40 million per company over the life of an investment. For
more information, please refer to the H.I.G. BioHealth Partners website
at www.higbio.com.

* Based on total capital commitments managed by H.I.G. Capital and
affiliates.

Contacts

H.I.G. BioHealth Partners, LLC
Michael Wasserman
Managing
Director
[email protected]
P
305.379.2322
www.HIGBio.com

error: Content is protected !!