Linden Invests in BioIVT
Chicago, IL (October 5, 2021) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, announced today a majority investment in BioIVT (the “Company”), alongside current investors Arsenal Capital Partners and the Company’s management team. Headquartered in Westbury, New York, BioIVT is a leading provider of mission critical biological specimens for the pharmaceutical discovery and development market.
Jeff Gatz, CEO of BioIVT, stated, “We are excited to partner with Linden and look forward to leveraging their experience and relationships in healthcare and life sciences to execute against our shared value creation plan for the Company, designed to accelerate the growth of our biospecimens and associated services platform.”
“We commend Jeff Gatz and the entire management team at BioIVT on building an extraordinary business that provides superior quality biospecimens and services critical to the drug discovery and development market,” said Joe Bernardo, an Operating Partner at Linden and incoming BioIVT board member.
Piyush Shukla, a Partner at Linden and incoming BioIVT board member, added, “BioIVT has established itself as a global leader in the biospecimens market. Linden’s investment in BioIVT builds upon our dedicated and longstanding pharmaceutical supply chain and services sector effort. We look forward to supporting the BioIVT team as they seek to grow both organically and through acquisitions.”
Steven Klosk, Operating Advisor at Linden and former CEO of Cambrex Corporation, and Marshall Crew, Operating Advisor at Linden and former Group Vice President at Thermo Fisher Scientific, have also joined BioIVT’s Board of Directors.
Kirkland & Ellis LLP served as legal advisor to Linden. RBC Capital Markets served as exclusive financial advisor to Linden. Jefferies Group LLC served as the exclusive financial advisor to BioIVT. Funds managed by the Credit Group of Ares Management Corporation, and Golub Capital, provided debt financing for the transaction.
BioIVT is a market leading provider of mission critical biological specimens for the pharmaceutical discovery and development market. The Company specializes in control and disease state samples, including tissues, immune cell products, blood, and other biofluids. BioIVT’s portfolio of clinical specimens directly supports precision medicine research and the effort to improve patient outcomes by coupling comprehensive clinical data with donor samples. For more information, please visit www.bioivt.com.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating experience, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested more than $2.5 billion in healthcare companies. For more information, please visit www.lindenllc.com.