FORT WORTH, Texas & SAN FRANCISCO--(BUSINESS WIRE)--TPG Capital, the North American- and European-focused private equity platform of leading global alternative asset firm TPG, today announced that Ron Labrum has been appointed Chairman of the Board of Beaver-Visitec International (“BVI”). The appointment comes alongside the close of TPG’s acquisition of BVI, a leading global developer, manufacturer, and marketer of specialized surgical devices for the ophthalmic marketplace. The previously-announced transaction was agreed to in July of this year.
Labrum has more than 30 years of experience operating companies that develop and distribute medical devices and has led the expansion of numerous healthcare platforms through organic and inorganic growth. Most recently Labrum served as President and CEO of global medical device company Fenwal, which TPG carved out of Baxter Healthcare Corporation in 2007. Before Fenwal, Labrum held various leadership roles with Allegiance Healthcare, American Hospital Supply Corporation, Baxter International, and Cardinal Health.
“BVI has become a leader in the ophthalmology surgical products sector, and with TPG as a partner they are poised for even further growth,” said Labrum. “I look forward to joining the BVI board, to working closely with the company’s world-class leadership team, and to once again partnering with TPG.”
“After working closely with Ron during his time at Fenwal, we are confident that his experience leading global, growth-oriented companies will be valuable for BVI as we continue to expand the company’s array of products, the markets in which it competes, and the variety of patients it serves,” said Jeffrey Rhodes, Partner at TPG.
“BVI’s heritage of precision manufacturing, continuous product innovation, and a market-leading reputation for quality among surgeons has cemented its leadership in the sector. We’re very pleased to have successfully completed our acquisition of the company,” said John Schilling, Partner at TPG.
TPG’s investment in BVI adds to the firm’s history of identifying and partnering with leading healthcare companies globally. In 2012, for example, TPG invested in Par Pharmaceutical and helped grow the company from a locally focused manufacturer to an international platform that quadrupled its product suite by 2015. This transaction brings the firm’s total invested in healthcare to more than $10 billion, with $8.5 billion of that invested since 2007.
TPG is a leading global private investment firm founded in 1992 with over $70 billion of assets under management and offices in Austin, Beijing, Dallas, Fort Worth, Hong Kong, Houston, Istanbul, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Singapore, and Tokyo. TPG's investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of their portfolio. For more information, visit www.tpg.com.
About Beaver-Visitec International, Inc.
Headquartered in Waltham, Massachusetts, USA, Beaver-Visitec International develops, manufactures and markets ophthalmic and other specialty microsurgical products. Beaver-Visitec distributes products in over 90 countries worldwide and operates manufacturing facilities in Waltham, MA, USA and Bidford on Avon, U.K. Beaver-Visitec offers products and services for all aspects of Ophthalmic Surgery, including cataract, refractive, oculoplastic, and vitreoretinal sub-specialties as well as other specialty microsurgery procedures. More information about Beaver-Visitec International can be found at www.beaver-visitec.com.