JLL Launches Medical Materials Platform

JLL Partners has partnered with biomedical executive Bart Doedens to form Renovo Health, a new platform company in the medical materials sector.

Renovo will look to buy, build, and develop materials technologies used in medical and dental procedures. JLL has committed $100 million to capitalize Renovo and fund future acquisitions.

“We firmly believe underlying demographic and healthcare trends, coupled with the increasing sophistication and applications for materials technologies, provide a strong backdrop for this endeavor,” said Dan Agroskin, a managing director at JLL. “Bart has proven time and again to be an exceptional leader, with the industry expertise and strategic vision requisite to back and build a market-leading platform that is defined by its commitment to quality, technical differentiation, innovation, comprehensive scale, and customer service.”

Mr. Doedens has more than 30 years of experience in the biomedical industry. From 2014 to 2019, he was the CEO of Collagen Matrix, a New Jersey-based developer and manufacturer of collagen-based medical devices used for tissue and bone repair, and regeneration. Collagen Matrix was acquired by Linden Capital Partners in August 2019. Earlier in his biomedical career, Mr. Doedens was the president of Biomet 3i, a Florida-based manufacturer of surgical products used in bone healing, biologics, and dental reconstruction. Prior to Biomet 3i, Mr. Doedens was vice president of Sirona Dental Systems and president and CEO of Atlas Spine.

“I am thrilled to partner with JLL to build Renovo Health into a preeminent platform that can fundamentally improve people’s lives,” said Mr. Doedens. “Every year, millions of people undergo procedures for both acute and chronic conditions in a wide range of therapeutic applications, for which utilizing the right medical materials can ensure fast and fulsome recuperation. By bringing together management’s sector knowledge, JLL’s track record of building transformational healthcare businesses, and the wide breadth of materials technologies and solutions available in the current marketplace, Renovo Health is ideally positioned to lead the next phase of growth in the industry.”

New York City-based JLL Partners invests in companies active in the healthcare, specialty industrials, and business services sectors. Since its founding in 1988, the firm has invested approximately $5 billion, across eight funds, in over 50 platform investments and more than 190 add-on acquisitions.

© 2020 Private Equity Professional | March 11, 2020

Print Friendly, PDF & Email