Pulse Veterinary Technologies (PulseVet), a portfolio company of Branford Castle, has acquired NeoPulse from Swiss-based Switalis. Branford Castle acquired PulseVet in September 2019 from Thompson Street Capital Partners.
PulseVet is a provider of extracorporeal shock wave therapy (ESWT) devices that use acoustic energy to stimulate healing, particularly in ligament, tendon, or bony structures. PulseVet is used by veterinarians, particularly equine veterinarians, and has a large installed base of equipment worldwide.
Firing shock waves repeatedly at tissue creates microtrauma, which stimulates an increase in blood flow and new blood vessel formation in the target area. PulseVet, led by CEO Adrian Lock, was founded in 2009 and is headquartered in Alpharetta, Georgia with subsidiary operations in Japan.
Switalis is a developer of ESWT devices used in the veterinary and human medical markets. The company, led by founder and CEO Ralph Brinkmann, is headquartered in Kreuzlingen, Switzerland.
“PulseVet and NeoPulse create a transformative global veterinary shock wave therapy company,” said Eric Korsten, a senior managing director of Branford Castle. “This accelerates the growth of the company and its ability to more effectively serve the growing therapeutic needs of the equine veterinary market.”
“The combination of the two companies extends our international reach, our research and development capabilities, and our ability to better serve our veterinarian customers and their clients and patients around the world,” said Mr. Lock. “Together with PulseVet’s recent regulatory approval for ProPulse use in Japan, we have created a better platform for supporting scientific research and the overall positive impact of shock wave therapy in the equestrian community and other veterinary markets.”
New York City-based Branford Castle invests in companies that have enterprise values of up to $100 million and EBITDAs of less than $15 million. Sectors of interest include consumer products and services, commercial distribution, industrials and specialty manufacturing, business services, and logistics.
© 2021 Private Equity Professional | February 2, 2021
