Shore Capital Partners, a Chicago-based private equity firm, has sold IZI Medical Products, its interventional radiology medical device portfolio company, to Halma.
Shore Capital partnered with IZI in 2016 with the goal of building a manufacturer and distributor of medical devices. Led by Chief Executive Officer Greg Groenke, the team at IZI has built a portfolio of consumable devices used in interventional radiology and oncology, radiation therapy, neuro-spine and image guided surgery procedures. IZI’s products and technologies are employed in approximately 2,000 domestic hospitals, as well as used internationally across 35 countries.
“Shore Capital is proud to have partnered with Greg and the IZI team to build the company into one of the leading medical device platforms in the interventional market,” said Don Pierce, Partner at Shore Capital and Chairman of the Board at IZI. “IZI is well positioned to continue growing as a leader in the industry. We appreciate the contribution of all employees and wish the team success as they embark on this next chapter with an excellent partner in Halma.”
“Shore Capital was a true partner that shared our vision for growth and success, providing more than just capital during our partnership. The firm supported with investing in our people, developing our technology and growing our business through strategic acquisitions,” said Groenke. “Our mission is to improve patients’ lives with physician-led innovation, which aligns with Halma’s vision to improve the quality of care delivered by healthcare providers. Joining the Halma group will take IZI to the next level, adding research and development capabilities and bringing international growth opportunities that will support our journey to advance healthcare for patients worldwide.”