Leading healthcare manufacturer acquires babyLance� safety heelstick from MediPurpose�
Clinical Innovations, the largest medical device company exclusively focused on labor and delivery, today announced that it has acquired the babyLance� safety heelstick device from MediPurpose�, a Singapore-based medical products company.
The babyLance� safety heelstick is a safe and precise heel incision device for use with premature infants, newborns and toddlers. Designed by neonatal caregivers, babyLance� uses an innovative spring mechanism and ergonomic design to allow for safe, stable, accurate sampling and minimal discomfort for babies. The full babyLance� portfolio contains four CLSI LA4-A5-compliant devices with varied incision depths for babies weighing anywhere from less than 1,000 grams to more than nine kilograms.
"The innovative babyLance� safety heelstick was designed by the neonatal nurses who use it every day and understand the importance of safety and accuracy needed for obtaining blood for testing. The arching mechanism of the device reduces the pain and invasiveness of this commonly performed procedure," said Ken Reali, president and CEO of Clinical Innovations. "With our focus on improving the lives of mothers and their babies, we're proud to introduce babyLance� as our first neonatal device and a core part of our labor and delivery product portfolio. This acquisition is an important step in our strategy to expand into the NICU."
As Clinical Innovations' first neonatal acquisition, babyLance� adds to the company's continually growing medical device portfolio, which also includes the Kiwi� Vacuum-Assisted Delivery System, the traxi� Panniculus Retractor and other labor and delivery products designed to improve the lives of mothers and their babies throughout the world.
"Clinical Innovations is a market leader in labor and delivery because it's always looking at new products and areas where innovation makes the difference," said Mike Lynch, operating partner for Pritzker Group Private Capital. "As a leading neonatal device, babyLance� is a great fit in an important adjacent market for Clinical Innovations."
Originally launched by MediPurpose� in 2010, babyLance� was relaunched in 2012 with an improved design after extensive product definition and validation by neonatal nurses. The new babyLance� includes an improved "pull" spring mechanism and optimized incision profile. Today the device is sold primarily in the U.S., European and Chinese markets.
Clinical Innovations is a member of Pritzker Group's family of companies.
About Clinical Innovations
Clinical Innovations is the largest medical device company exclusively focused on labor and delivery. Already a market leader in several categories with products such as the Koala� Intrauterine Pressure Catheter; Kiwi� Vacuum-Assisted Delivery System; ROM Plus� Rupture of Membranes Test; traxi� Panniculus Retractor and ClearView Uterine Manipulator. Clinical Innovations is expanding its global presence while directly researching and developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and their babies throughout the world. Clinical Innovations is a Pritzker Group company. For more information, visit clinicalinnovations.com.
About Pritzker Group
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides early-stage and growth venture funding to technology companies throughout the United States; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and healthcare sectors. The firm's permanent, proprietary capital base allows for efficient decision making, broad flexibility with transaction structure and investment horizon, and alignment with management teams focused on creating long-term value. Pritzker Group brings significant resources, expertise and credibility in building businesses and is an ideal partner for entrepreneur- and family-owned companies. For more information, visit pritzkergroup.com.
Source: 4 Traders