- about us
Acquisition expands Corza's portfolio of ophthalmic surgery products
Chicago, IL and Westwood, MA – June 8, 2022
GTCR, a leading private equity firm, announced today that its portfolio company Corza Medical (“Corza”), a leading global manufacturer of innovative surgical technologies, has acquired Barron Precision Instruments, LLC (“BPI”), a founder-owned medical device company focused on ophthalmic surgery products.
Founded in 1948 and headquartered in Grand Blanc, Michigan, BPI has over 70 years of experience manufacturing disposable medical devices. BPI is a leader in ophthalmic products used in corneal surgeries, delivering unique designs and innovative technologies to patients suffering from corneal disease across the globe.
The acquisition of BPI enhances Corza's portfolio of surgical products and expands the company’s manufacturing footprint. This transaction represents Corza’s second add-on acquisition since its formation in January 2021 and follows the transformative acquisition of Katena Products, Inc. in December 2021, which served as the foundation of its Corza Ophthalmology business unit.
"The addition of BPI is highly complementary to our existing ophthalmic surgery portfolio," said Greg Lucier, Executive Chairman of Corza. “The acquisition of BPI broadens our ability to target various disease states and highlights our dedication to building Corza through M&A. We look forward to continuing to support the customer base with an unwavering commitment to product quality and customer service.”
“For more than seven decades, BPI and the Barron family have delivered trusted performance and consistent innovation serving the corneal transplant market," said Dan Croteau, CEO of Corza. “The acquisition of BPI reinforces Corza’s commitment to providing exceptional service and value to our customers, transforming surgical outcomes and changing the lives of patients. We look forward to having the highly skilled team at BPI join the global Corza family.”
Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR, added: “The Barron family and the BPI team have built a resilient business with excellent products that are highly valued by customers. The acquisition of BPI accelerates Corza’s momentum and expands its attractive portfolio of growing products in ophthalmics, wound closure and biosurgery. We are excited to continue supporting Corza’s growth initiatives, investing in its strategic platforms and building out its portfolio with continued M&A.”
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications 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. Follow us on LinkedIn.
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 QuillTM barbed sutures, SharpointTM Plus and LookTM surgical sutures, KatenaTM and Blink Medical ophthalmic instruments, and the TachoSil® fibrin sealant patch. For more information, please visit www.corza.com.
About Barron Precision Instruments
Headquartered in Grand Blanc, Michigan, Barron Precision Instruments, LLC (BPI) is a privately owned company that has over 70 years of experience in the fabrication of sterile, disposable medical devices. The Company currently focuses primarily on manufacturing quality instruments for use in the surgical treatment of the human eye. For more information, please visit www.bpic.com.
Steve Blazejewski is the President & CEO of Katena Products, Inc. With over 25 years in the global medical technology industry, Steve leads all critical strategic, financial, and operational performance initiatives for the company. Most recently, he was President of the $12 billion Medical Solutions global business unit at Cardinal Health. Prior to that, he was President of the $4.5 billion Patient Monitoring & Recovery global business at Medtronic and led the divestiture of the Patient Recovery business to Cardinal. From 2012-2015, Steve was President of Covidien’s $2 billion General Surgical Products global business prior to Medtronic’s acquisition, and has held a variety of sales, sales management, marketing, and general management roles. He is a graduate of the University of Pennsylvania.
Bob Earley is the Chief Financial Officer at Katena. Most recently, Bob was CFO of Laborie Medical Technologies, a Toronto, Ontario based medical device manufacturer. Prior to Laborie, Bob was President and CFO for Bridgeport Tank Trucks, a Texas based oil field services company. Bob holds a B.S. in finance from The Ohio State University and an M.B.A. from Case Western Reserve.
Arun Mohan is the Vice President of Global Marketing at Katena. With over 12 years in the global medical technology industry, he leads all global marketing efforts focused on strategy, product management, customer programs, product development and professional education globally for the company. Prior to Katena, he was the Global Head of Product Marketing at Asensus Surgical in the abdominal surgical robotics space. Arun holds a B.S. and M.S. degrees in Biomedical Engineering from Purdue University, and an M.B.A. from Northwestern’s Kellogg School of Management.
Jack Simmons is the Vice President of Global Sales at Katena. With over 11 years of leading customer-centric commercial models and delivering above market growth in the global medical technology industry, Jack leads the direct selling, distributor partnership, commercial operations, and customer service activities globally for the company. Prior to Katena, Jack was the National Vice President, Commercial Services at WaveMark™ a Cardinal Health Company. Jack holds a B.S. and M.Ed. in business and marketing management from the University of Minnesota.
Roger Tyler is the Managing Director of Katena’s global single use instruments business, Blink Medical Ltd based in the UK. With over 30 years of commercial experience in the ophthalmic medical device industry, Roger founded Blink Medical 18 years ago as the world’s first stand-alone supplier of single use ophthalmic surgical instruments. He leads Katena’s global commercial and operational efforts for the company’s single use ophthalmic instruments portfolio as part of the Katena senior leadership team.
Julie Eigenrauch is the Director of Human Resources at Katena responsible for leading Katena’s overall HR strategy in alignment with Katena’s business goals. Julie oversees Katena’s approach to employee engagement, recruitment, compensation & total rewards programs, employee benefits, performance management, and proactive workforce planning. For the past 10+ years, Julie has served as a strategic and accountable HR leader, driving commercial and operational excellence initiatives at large and mid-sized healthcare companies. Julie holds a B.S. in Biochemistry from Cornell University.
Carolyn Zdenek is the Vice President of Operations at Katena. With over 20 years of operational leadership and experience in the global medical device and technology industry, Carolyn leads all supply chain management, manufacturing, and operations for the company globally. Prior to Katena, Carolyn was with Zimmer Biomet where she led the global Advanced Manufacturing Organization for the Orthopedic Division. Carolyn holds a B.S. in Mechanical Engineering from New Jersey Institute of Technology and an M.B.A. from Rutgers University.
Bryan Weinmann is the Vice President of Quality and Regulatory Affairs at Katena. With 30 plus years of Quality/Regulatory Compliance experience in the medical device industry, Bryan ensures Katena’s on-going successful regulatory compliance track record globally. Prior to Katena, Bryan was with Stryker’s Orthopedics Division (Osteonics) where he played an instrumental role in Stryker's achievement of ISO certification and CE mark authorization. Bryan holds a B.S. in Mechanical Engineering from New Jersey Institute of Technology.
Nauman Chughtai is the Vice President of Information Technology at Katena. With over 25 years of experience in infrastructure, enterprise systems, analytics, databases, and system engineering, Nauman leads all IT related systems and initiatives globally for the company. Prior to Katena, he was Director of IT Services at Verisk Analytics where he led the standardization of ITIL processes. Nauman holds a B.S. in computer engineering from University of Central Florida and an M.B.A. from Rutgers University.