Additional investment and resources will accelerate Biocomposites' international expansion and innovation in products for use in infection management
HELLERUP, Denmark, LONDON and KEELE, England, March 3, 2025 /PRNewswire/ -- Novo Holdings and TA Associates ("TA"), announced today that the parties have entered into an agreement for Novo Holdings to make an investment in Biocomposites ("the Company"), an international medical devices company that engineers, manufactures and markets leading products for use in infection management in bone and soft tissue. As part of the transaction TA, 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.
Headquartered in Keele, United Kingdom, Biocomposites' pioneering calcium compounds and specialty polymer products - including STIMULAN, the only calcium matrix carrier platform approved to carry antibiotics into infected and non-infected sites in bone and soft tissue - are trusted by surgeons in over 100 countries worldwide. With over 30 years of expertise, Biocomposites' advanced solutions are used in more than one million procedures annually, across multiple specialties including musculoskeletal infection, orthopaedics, trauma, spine, foot and ankle, and sports injuries.
Since partnering with TA in 2017, Biocomposites has achieved significant growth - including a threefold increase in revenues, successful geographic expansion, and continued product diversification. The Company has also completed two strategic acquisitions, strengthening its international presence and enabling entry into adjacent indications and therapeutic areas. With the new investment from Novo Holdings and the ongoing support of TA, Biocomposites aims to build on this momentum, deepening its global footprint and further advancing its pipeline of innovative products to deliver life-changing solutions at scale.
"We are thrilled to partner with Biocomposites and TA in this exciting new chapter for the Company," said Henrik Kjær Hansen, Senior Partner at Novo Holdings. "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."
"TA has been a fantastic long-term partner to us, and we are excited for the future alongside them and Novo Holdings," said Michael Harris, Biocomposites' CEO. "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."
"Since our initial investment, Biocomposites has established itself as a pioneer in the infection management space," said Birker Bahnsen, Managing Director at TA. "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 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.
About Biocomposites
Biocomposites is an international medical devices company that engineers, manufactures, and markets world leading products for use in infection management in bone and soft tissue. Based in Keele, UK, it has global operations across Europe, USA, Argentina, Canada, China, and India. Biocomposites is a leading developer of innovative calcium compounds and bone cements for surgical use. Its products regenerate bone and target infection risks across a variety of specialties, including musculoskeletal infection, orthopaedics, trauma, spine, foot and ankle, podiatry, and sports injuries. Biocomposites products are now used in over one million procedures per annum and sold in more than 100 countries around the world. Please visit biocomposites.com to learn more.
About TA Associates
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries - technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. Further information on TA can be found at www.ta.com.
About Novo Holdings
Novo Holdings is a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people's health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.
Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective. Novo Holdings invests in life science companies at all stages of development and also manages a broad portfolio of equities, bonds, real estate and infrastructure assets as well as private equity investments.
As of year-end 2023, Novo Holdings had total assets of €149 billion.
Further information: www.novoholdings.dk.
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