GTCR and Corza Announce Acquisition of Katena
Acquisition expands Corza’s portfolio of ophthalmic surgery products
Chicago, IL and Westwood, MA – December 2, 2021
GTCR, a leading private equity firm, announced today that Corza Medical (“Corza”) has acquired Katena Products, Inc. (“Katena”), a medical device company focused on ophthalmic surgery products.
Founded in 1975 and headquartered in Parsippany, NJ, Katena is a leader in ophthalmic products used across cataract, glaucoma and corneal surgeries. Katena’s product offering includes precision surgical instruments, single-use devices and specialty biologics that have been sold in more than 110 countries to more than 5,000 customers, including hospitals, ambulatory surgery centers and distributors. Katena has more than 200 employees across North America and Europe.
The acquisition of Katena expands Corza’s portfolio of surgical products and adds significant scale, product breadth and infrastructure to Corza’s ophthalmic surgery segment. This transaction represents Corza’s first add-on acquisition since its formation in January 2021 with the transformational merger of Surgical Specialties and TachoSil, a carve-out from Takeda Pharmaceutical.
“The addition of Katena is highly complementary to our existing surgical product portfolio,” said Greg Lucier, Executive Chairman of Corza. “This acquisition underscores our dedication to serving our customers with differentiated, high-performance technologies paired with world-class service. We look forward to continuing to support the Katena customer base and expanding our surgical market presence via continued investment in organic growth and M&A.”
“Katena is a brand with decades of trust and clinical relevance in ophthalmic surgery,” said Dan Croteau, CEO of Corza. “Corza is committed to providing exceptional service and value to our customers, transforming surgical outcomes and changing the lives of patients around the globe. The acquisition of Katena further enables us to execute on our mission with high-quality products that allow our customers to maintain, improve and restore sight for their patients.”
Sean Cunningham, Managing Director at GTCR, added: “Corza’s acquisition of Katena represents another great example of GTCR’s Leaders Strategy™ at work. Greg, Dan and the Corza team are building a unique platform within the medical technology sector, with an attractive portfolio of growing products in wound closure, biosurgery and ophthalmics. We are excited to continue building out Corza’s portfolio with additional M&A.”
William Blair acted as financial advisor and Latham & Watkins provided legal counsel to Corza and GTCR.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications, and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com.
About Corza Medical
Corza Medical is a leading global manufacturer of innovative surgical technologies. With a global team of over 1,800 employees supporting clinicians, distributors and medical device companies worldwide, Corza provides healthcare professionals a platform of surgical technologies with industry-leading brands, including Quill™ barbed sutures, Sharpoint™ Plus and Look™ surgical sutures, Sharpoint™ ophthalmic knives, and the TachoSil® fibrin sealant patch. For more information, please visit www.corza.com.
Katena Products, Inc., is an innovation-driven, medical technology company serving the global eye care community. Founded in 1975 as a premier provider of ophthalmic instruments for surgical and in-office applications, Katena has maintained its high-quality standards in ophthalmic instrumentation while expanding its product portfolio to include tissue biologics, diagnostic lenses, punctum plugs and corneal transplant devices across cataract, glaucoma and corneal surgery. For more information, please visit www.katena.com.