Belmont Instrument, a portfolio company of Audax Private Equity since December 2017, has acquired HC LIFE Ltd.
HC LIFE is a distributor of healthcare equipment to UK and Ireland-based hospitals, medical professionals, paramedics, the British Ministry of Defense, businesses, and government agencies. The company’s products include equipment for anesthesia, neonatal care, and laparoscopic surgical training. HC LIFE is headquartered in Berkshire, UK (www.hclifeltd.com).
“After years of close collaboration with Belmont as their distributor for the UK and Ireland, we are delighted to officially become part of the Belmont family and help accelerate the growth and presence of Belmont in Europe,” said Ian Niblock, Business Manager of HC LIFE.
Belmont is a maker of blood and fluid warming systems that are used in war zones, hospitals, ambulances, flight line helicopters, ski patrols or anywhere warm blood and fluids are needed. Belmont’s leading product is The Belmont Rapid Infuser RI-2 – more commonly referred to as “The Belmont” – which uses electromagnetic induction heating to provide control of temperature and infusion during fluid resuscitation.
The product is credited with saving thousands of lives by infusing warm blood and fluid into patients experiencing massive blood loss, while air removal features help keep the patient safe from air embolisms. The Belmont is used for high-volume infusions in operating rooms, emergency and critical care, labor and delivery, pediatric departments, and military hospitals. Belmont, led by CEO Brian Ellacott, was founded in 1980 and has 80 employees with a headquarters near Boston in Billerica, MA (www.belmontinstrument.com).
Belmont’s acquisition of HC LIFE extends its direct commercial presence in the UK and Ireland and provides Belmont with a logistics hub to better facilitate distribution of its products to European customers. “We are very pleased to announce the acquisition of HC LIFE and welcome its employees as the newest team members to Belmont,” said Mr. Ellacott. “This is the second among several planned strategic acquisitions for Belmont as we continue to expand our direct commercial presence globally.” In June 2018, Belmont acquired the product lines of MTRE Advanced Technologies, a manufacturer of non-invasive body temperature control products that is headquartered in Rehovot, Israel.
Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, New York and Menlo Park (www.audaxgroup.com).
© 2018 Private Equity Professional | September 5, 2018
