Biocomposites completes MBO
Posted in December 1997

UK Biomedical company Biocomposites Ltd. has been acquired by management from its parent in a US$ 1.5 million deal, backed by the Manchester, UK office of investment capital group, 3i plc., which provided the major part of the investment.

Biocomposites was established in 1992 following five years of operation as a biomaterials research division of the Jesse Shirley Group.

Headed by Managing Director, Mr. Stephen Bratt, the buyout includes Technical Research Director, Mr. John Cooper and Operations Director, Dr. Russell Waters.

The administration and research staff are to be transferred under the new ownership.

The remaining investment has been provided by private individuals and the previous company owners.

Biocomposites, based in Etruria, Stoke on Trent, has developed biomedical technologies based on synthetic calcium materials from which composite medical devices can be manufactured.

The devices can take the form of pins, plates and injectable pastes with the required biocompatibility for implantation in the human body.

The devices are used principally by surgeons to treat fractures, dental defects and to reattach ligaments and tendons to bone.

The devices are absorbed by the body following implantation thereby avoiding the need for their removal in another surgical procedure.

Mr. Bratt commented, "Biocomposites' technologies and medical devices will save the health service a great deal of cost in unwanted revision surgery and offer significant patient relief from the pain associated with further operations. In this respect, our technologies represent a major advance on the traditional metal devices currently favoured by most surgeons and clinicians."

The US and European markets annually for this category of biomaterials are estimated at US$1.2 billion and forecast to grow to about US$3 billion by 2001.