GTCR Completes Sale of Corza Medical's Biosurgery Unit to EQT for Strategic Growth
GTCR, a prominent private equity firm, has officially signed a definitive agreement to sell Corza Medical's Biosurgery business unit, which includes the established TachoSil® product line, to EQT. While the financial specifics of this deal remain undisclosed, it marks a crucial strategic maneuver for GTCR and Corza Medical. This transition positions Corza Medical to further invest and develop its remaining divisions, particularly in Wound Closure, Ophthalmology, and Biomedical Textiles.
Founded in 2019, Corza Medical was established through a partnership between GTCR and industry veteran Greg Lucier, who has extensive experience in the medical device and life sciences sectors. Initially, GTCR and Corza Medical acquired TachoSil, a potent fibrin sealant used in various surgical applications. This corporate carve-out was executed to expand Corza's footprint in the surgical technology landscape, allowing for significant growth and resource investments in these innovative fields.
As part of its strategic expansion, Corza Medical has successfully completed three acquisitions, which have fueled its production capability. Notably, the incorporation of TachoSil’s manufacturing assets enabled the company to bolster its production output, thus meeting the increasing demand for its advanced wound care solutions. Further, Corza has prioritized investments in commercial resources, enhancing its sales presence, forming global distribution partnerships, and developing new applicators suited for minimally invasive and robotic surgical procedures.
The Executive Chairman and CEO of Corza Medical, Gregory T. Lucier, expressed significant optimism regarding the sale. He stated, “The Biosurgery team has built an exceptional business, and we believe EQT is the right partner to support its next phase of growth.” This sentiment reflects a commitment to maintaining high standards in product quality and customer service during this period of transition.
From EQT’s perspective, its partner Ethan Waxman highlighted the unique clinical advantages provided by TachoSil, which enhances patient outcomes in critical surgical procedures globally. The firm intends to leverage this acquisition to further solidify the Biosurgery unit's market position by investing in growth and extending global access to its solutions.
The transaction, which demonstrates GTCR’s Leaders Strategy™ in action, not only underscores the value inherent in Corza’s Biosurgery franchise but also allows GTCR to concentrate resources on further enhancing the surgical technologies within Wound Closure, Ophthalmology, and Biomedical Textiles. According to Sean Cunningham, Managing Director at GTCR, the integration of Surgical Specialties and TachoSil, along with strategic acquisitions and operational improvements, has significantly diversified Corza's medical device offerings.
While the closing of this transaction is anticipated in the fourth quarter of 2026, subject to customary regulatory approvals and conditions, Corza Biosurgery will maintain its operational integrity, focus on customer relations, and guarantee continuity in product quality and supply.
Citi and Moelis & Company are serving as financial advisors, while Kirkland & Ellis LLP is providing legal counsel to Corza Medical in this significant transition. This strategic shift highlights the dynamic landscape of the medical technology industry, offering opportunities for growth and specialized advancements in patient care through the efficient management of surgical solutions.
Founded in 2019, Corza Medical was established through a partnership between GTCR and industry veteran Greg Lucier, who has extensive experience in the medical device and life sciences sectors. Initially, GTCR and Corza Medical acquired TachoSil, a potent fibrin sealant used in various surgical applications. This corporate carve-out was executed to expand Corza's footprint in the surgical technology landscape, allowing for significant growth and resource investments in these innovative fields.
As part of its strategic expansion, Corza Medical has successfully completed three acquisitions, which have fueled its production capability. Notably, the incorporation of TachoSil’s manufacturing assets enabled the company to bolster its production output, thus meeting the increasing demand for its advanced wound care solutions. Further, Corza has prioritized investments in commercial resources, enhancing its sales presence, forming global distribution partnerships, and developing new applicators suited for minimally invasive and robotic surgical procedures.
The Executive Chairman and CEO of Corza Medical, Gregory T. Lucier, expressed significant optimism regarding the sale. He stated, “The Biosurgery team has built an exceptional business, and we believe EQT is the right partner to support its next phase of growth.” This sentiment reflects a commitment to maintaining high standards in product quality and customer service during this period of transition.
From EQT’s perspective, its partner Ethan Waxman highlighted the unique clinical advantages provided by TachoSil, which enhances patient outcomes in critical surgical procedures globally. The firm intends to leverage this acquisition to further solidify the Biosurgery unit's market position by investing in growth and extending global access to its solutions.
The transaction, which demonstrates GTCR’s Leaders Strategy™ in action, not only underscores the value inherent in Corza’s Biosurgery franchise but also allows GTCR to concentrate resources on further enhancing the surgical technologies within Wound Closure, Ophthalmology, and Biomedical Textiles. According to Sean Cunningham, Managing Director at GTCR, the integration of Surgical Specialties and TachoSil, along with strategic acquisitions and operational improvements, has significantly diversified Corza's medical device offerings.
While the closing of this transaction is anticipated in the fourth quarter of 2026, subject to customary regulatory approvals and conditions, Corza Biosurgery will maintain its operational integrity, focus on customer relations, and guarantee continuity in product quality and supply.
Citi and Moelis & Company are serving as financial advisors, while Kirkland & Ellis LLP is providing legal counsel to Corza Medical in this significant transition. This strategic shift highlights the dynamic landscape of the medical technology industry, offering opportunities for growth and specialized advancements in patient care through the efficient management of surgical solutions.
Topics Health）
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