We are delighted to announce today the sale of Tissuemed to Becton Dickinson (NYSE: BDX). Tissuemed, the Leeds-based medtech specialist, develops and manufactures self-adhesive films that help surgeons to close and seal sutured and stapled internal tissues.
Tissuemed is the last of Shackleton’s 2007 vintage investments to be sold. It has achieved strong growth and profitability in recent years and has been paying dividends. This exit will therefore deliver an overall IRR in excess of 40% for Shackleton’s first fund, SSLP. The sale of Tissuemed represents Shackleton’s 26th profitable exit.
“We are enormously grateful to the team at Tissuemed, led by Jeremy Sampson, Peter Maver, and Ian Thompson.” Says Deborah Hudson, Partner at Shackleton. “The team took Tissuemed through challenging times and their ultimate success is testament to the same spirit of perseverance, imagination, and leadership that inspired us to name our firm after Sir Ernest Shackleton.”
Tissuemed delivers high impact medical benefits.
Leakage through surgical closures is an occupational hazard faced by surgeons of many specialities. It can lead to delayed healing, post-operative complications, longer hospital stay and avoidable costs. TissuePatch, the company’s flagship product, is unique in its ability to bond to tissue surfaces. This helps control internal bleeding or prevent leaks from surgical incisions. Tissuepatch’s thin, flexible and transparent composition means it is ready for use out of the package. So it is ideal for a range of surgical sealant applications. See how it bonds here.
The acquirer, Becton Dickinson (BD), aims to expand global offerings for surgeons outside the U.S. with Tissuemed’s lead product, Tissuepatch. Surgeons already trust Tissuepatch with its design for enabling strong adhesive and minimal swelling, giving the company an opportunity to leverage its reach and clinical expertise to continue making strides in sealant technologies.
“This advanced sealant serves as a strategic complement to the BD products used in the operating room today — providing us with the opportunity to equip surgeons with a more robust, highly-integrated portfolio of surgical solutions,” BD President of Surgery Kevin Kelly said in the release. “Integrating Tissuepatch™ into our business aligns with our commitment to continuously innovate in our core portfolio to help support minimally invasive surgeries.”