Avista Healthcare Partners Makes Strategic Acquisition of EBI, Celebrating Its 50th Investment in Healthcare Sector

Avista Healthcare Partners Strengthens Its Position with EBI Acquisition

Avista Healthcare Partners, a prominent private equity firm dedicated exclusively to healthcare, has recently announced its acquisition of EBI, the bone healing division of Highridge Medical. This significant transaction marks Avista's 50th platform investment, showcasing its commitment to fostering leading businesses within the healthcare sector.

A Testament to Expertise

Avista has a rich history of supporting and scaling healthcare enterprises. What distinguishes them is their deep operational knowledge and strategic acumen, particularly in executing intricate corporate carve-outs. This acquisition not only enhances Avista's portfolio but also reinforces their reputation as a leader in healthcare investment.

EBI, headquartered in Parsippany, NJ, has been a pioneer in electrobiology for over 40 years. It boasts an extensive portfolio that includes a range of clinically validated, implantable and non-invasive bone growth stimulation solutions tailored to accelerate bone healing and regeneration. Highlighting its innovation, EBI holds a unique position as the only company offering both implantable and non-invasive, PMA-approved solutions aimed at achieving successful spinal fusion and addressing fracture nonunion healing challenges.

Leadership Transition

As part of the acquisition, Kevin Kenny, a seasoned executive with extensive experience in the medical device sector, has taken on the role of Chief Executive Officer at EBI. Previously serving as the President of the Global Spine segment at Orthofix Medical, Kenny is well-equipped to lead EBI into its next phase of growth. Expressing his excitement, Kenny stated, "I am thrilled to be a part of EBI's next chapter. I am confident in EBI's ability to advance its leadership in bone healing technologies, driven by strategic initiatives and a relentless commitment to excellence."

Alongside him, Vincent Binetti, EBI's Chief Operating Officer, expressed enthusiasm about the company’s new direction as a standalone entity. He emphasized the importance of the partnership with Avista and the opportunities that lie ahead for EBI.

Unlocking Growth Potential

Garrett Lustig, Principal at Avista, highlighted the strategic importance of acquiring EBI, noting that it represents an attractive opportunity within the bone stimulation category. With a strong track record of successful corporate carve-out transactions, Avista feels well-prepared to support EBI’s growth initiatives and capitalize on new opportunities. Lustig stated, "We look forward to working with Kevin and the EBI team to unlock the company's full potential."

Commitment to Innovation

For over four decades, EBI has led the way in bone growth stimulation technology. Its pioneering products, first launched in 1979, have consistently addressed the needs of patients dealing with nonhealing fractures and high-risk spinal fusion cases. Now, as a pure-play entity focusing on bone growth stimulation, EBI is poised to deliver innovative solutions that can significantly improve patient outcomes in the realm of bone healing.

This acquisition not only solidifies Avista's position in the healthcare investment landscape but also marks a significant milestone for EBI. With strong leadership in place and the backing of Avista, EBI is set to advance its mission in the healthcare sector, improving the lives of patients worldwide.

About Avista Healthcare Partners

Founded in 2005, Avista Healthcare Partners has established itself as a leading New York-based private equity firm, managing over $9 billion across 50 growth-oriented healthcare businesses globally. The firm seeks partnerships with companies that not only exhibit strong management and stable cash flows but also demonstrate robust growth potential across various healthcare subsectors.

About EBI

For over 45 years, EBI has been at the forefront of electrobiology innovations. The company continues to offer an extensive, clinically proven range of implantable and non-invasive solutions that target the complex challenges associated with nonhealing fractures and spinal fusion. EBI is dedicated to maintaining its leadership position in the bone growth stimulation sector, with a future-focused vision aimed at improving patient care and outcomes.