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Partnership formed on the back of Uniphar Group PLC’s acquisition of CoRRect Medical GmbH, a leading Germany-based distributor of innovative medical device technologies, co-founded by 415 CAPITAL’s partners
OBERHACHING, Germany–(BUSINESS WIRE)–July 20, 2021–
415 CAPITAL Management GmbH (“415 CAPITAL”) today announced that it has entered into a strategic alliance with Dublin-based Uniphar Group PLC, a diversified international healthcare service provider and distributor of pharma and medical device products. Uniphar Group PLC is headquartered in Dublin, Ireland with over 3,000 employees and presence across Ireland, U.K., Benelux, the Nordics and the U.S.
“As an early- and development-stage medical technology investor, we have always been focused on leveraging our clinical and commercial access to create value for our portfolio companies,” added Frederik Groenewegen, Co-Founder & Managing Director of 415 CAPITAL. “For our investment franchise, this new strategic alliance is a huge leap forward, as it provides us with significantly expanded clinical and commercial reach across complementary European geographies, as well as access to a large clinical and retail sales infrastructure that supports almost €2 billion in annual revenues.”
The partnership was formed on the back of Uniphar Group PLC’s acquisition of CoRRect Medical GmbH, a leading distributor of innovative medical devices in Germany and Switzerland, co-founded by Michael Braun, Frank Groenewegen and David Thompson in 2010. The CoRRect Medical acquisition constitutes Uniphar Group PLC’s entry into Europe’s largest and most important healthcare market, Germany, and also adds activities in Switzerland. CoRRect Medical GmbH will further complement the Uniphar Group’s existing strong position within the interventional space across a number of brands: EPS Vascular, Angiocare, M3, Synapse Medical and MacroMed.
Following the acquisition, Michael Braun will remain as CoRRect Medical’s CEO and also continue to serve as a Senior Venture Partner of 415 CAPITAL, thereby acting as a close link between the medical technology VC and the healthcare services powerhouse. In addition, 415 CAPITAL Managing Director David Thompson will serve on a newly established strategy committee established between both groups. “We will be working closely with Uniphar Group to continuously explore and realize value-creation opportunities between our investment portfolio and the Uniphar Group of companies,” said Mr. Thompson.
About 415 CAPITAL
415 CAPITAL is a leading medical technology venture capital firm that was formed by entrepreneurs and investors who share a 28-year history of funding and commercializing groundbreaking medical technologies. The team has invested in more than 50 medical technology startups over the years, realizing over 25 exits to date, including Intact Vascular (sold to Philips in 2020), ReBound Therapeutics (sold to Integra LifeSciences in 2019), Claret Medical (sold to Boston Scientific in 2018), ReCor Medical (sold to Otsuka Holdings in 2018), ImThera Medical (sold to LivaNova in 2018), CardiAQ Valve Technologies (sold to Edwards Lifesciences in 2015), and CoreValve (sold to Medtronic in 2009).
About Uniphar Group PLC
Headquartered in Dublin, Ireland, Uniphar Group PLC is an international diversified healthcare services business servicing the requirements of more than 200 multinational pharmaceutical and medical technology manufacturers across three divisions – Commercial & Clinical, Product Access, and Supply Chain & Retail. The Group has strong established relationships with 7 of the top 10 pharma companies and 6 of the top 10 medical device companies. With a workforce of more than 3,000, the Group is active in Ireland, the U.K., the Benelux, the Nordics and the US, delivering unlicensed and specialty medicine on a global basis. The Group’s vision is to improve patient access to pharmaco-medical products and treatments by enhancing connectivity between manufacturers and healthcare stakeholders. Uniphar Group represents a strong combination of scale, growth and profitability.
Linus Rieder [email protected]
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