Devicor completes acquisition of Ethicon Endo-Surgery's Breast Care business

Jul 12 2010

Devicor Medical Products, Inc. (Devicor), a portfolio company of GTCR, announced today that the company has completed the acquisition of Ethicon Endo-Surgery's (EES) Breast Care business. The Breast Care business sells products designed to help doctors diagnose breast cancer at early stages while minimizing patient discomfort. The business will formally be known as Mammotome, a division of Devicor Medical Products, Inc.

The EES Breast Care product portfolio is sold in 50 countries around the world and includes the Mammotome® Breast Biopsy System and tissue markers (MammoMARK®, MicroMARK®, and CorMARK®) used for breast disease diagnostic sampling and management. As part of the agreement, Devicor also acquired marketing and distribution rights for Neoprobe® Gamma Detection Systems.

"Mammotome is a global leader in vacuum assisted breast biopsy devices and is a brand that is recognized worldwide. Today, we are excited to begin the work of further developing the Mammotome brand globally," says Tom Daulton, Chief Executive Officer, Devicor and Mammotome.

Mammotome's corporate headquarters will be located in Sharonville, Ohio, where it has leased 30,000 square feet of office space in Summit Woods Office Park, at 300 E-BusinessWay. Recently, the company was awarded a 60 percent job creation tax credit for seven years, valued at $1.5 million, from the Ohio Department of Development.

Now that the transaction is complete, nearly 300 EES associates primarily dedicated to the Breast Care business will be hired by Mammotome. "The talent and expertise of the Mammotome employees will allow us to continue to provide the best in innovative technologies to our customers around the world," says Daulton.

Mammotome's plans for growth include adding more than 150 jobs worldwide of which approximately 70 positions will be located at the corporate headquarters. In addition, Mammotome plans to build a new manufacturing plant in the next 12-18 months.

"The acquisition of the Breast Care business is a key component in achieving our objective of building a leading medical device business," says Dean Mihas, Principal of GTCR. "Given Tom Daulton's impressive track record leading and growing global medical device businesses, we're excited to be a partner in this acquisition and are committed to providing the resources to further strengthen Mammotome's market leading position through organic growth and strategic expansion."