Spectrum Medical Group Limited ("Spectrum Medical" or the "Company") and CVC Capital Partners VIII ("CVC") are pleased to announce that they have signed a definitive partnership agreement to support the continued growth of the Company, valuing Spectrum up to £1bn.
Spectrum Medical has grown rapidly over the past few years by bringing new and pioneering technologies to the cardiac bypass and ICU space. The Company’s vision is driven by clinical excellence and outcomes, and the Company is committed to partnering with the world’s leading clinicians in the implementation of clinical best practice.
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. The combination of these world leading technologies creates an ecosystem of products which lead to enhanced clinical monitoring, greater patient safety and improved health economics.
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."
We are excited to back Steve, Mark and the rest of the management team on the next stage of their journey.Cathrin Petty & Phil Robinson
"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" said Cathrin Petty, Managing Partner and Phil Robinson, Senior Managing Director at CVC.