Deal sees Gloucestershire business valued at £1bn
By Matt Hall | 19th July 2022
CVC Capital Partners has invested in Staverton-based medical equipment company Spectrum Medical Group.
The investment firm has signed a definitive partnership agreement to support the continued growth of the company, valuing Spectrum at £1 billion.
Established in 2005, Spectrum Medical is said to have grown rapidly over the past few years by bringing new and pioneering technologies to the cardiac bypass and ICU space.
Today, Spectrum Medical is focused on the development of becoming a single "solutions provider" of a platform of high-performance technologies that include Quantum Perfusion Systems, Quantum Informatics and Quantum Sterile Technologies.
Steve Turner, founder and CEO at Spectrum Medical, said: "It is a privilege to welcome CVC as our newest investor and represents a significant endorsement of the company we have built over the last 15 years.
"We chose CVC as our partner given their extensive experience in healthcare and their global presence, which we believe will help further accelerate our growth. We are very much looking forward to working with CVC to transform the cardiac space."
Cathrin Petty, managing partner at CVC, added: "We are thrilled to invest in Spectrum Medical, a true innovator in the cardiac space that is facilitating improved patient outcomes through a unique ecosystem of products.
"CVC funds invest in companies with leaders in their respective industries and Spectrum Medical is no exception. We are excited to back Steve, Mark and the rest of the management team on the next stage of their journey."
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