Altaris Announces Sale of BK Medical
New York, NY—Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”) announced today that it has entered into an agreement to sell BK Medical to General Electric (“GE”) (NYSE:GE) for a cash purchase price of $1.45 billion. The transaction is expected to close in 2022, subject to customary closing conditions.
Headquartered in Boston and Copenhagen, BK Medical is a global leader with over 40 years of experience in intraoperative imaging and surgical navigation. BK Medical’s Active Imaging technology provides surgeons with critical information to enable real-time, data-based decisions during surgical procedures, resulting in better clinical outcomes and increased cost efficiencies for the healthcare system. With a global installed base of more than 14,000 platforms, BK Medical’s ultrasound technology is used to guide clinicians during minimally-invasive and robotic surgeries, and to visualize deep tissue during ultrasound urology procedures as well as neuro- and abdominal surgeries. BK Medical has more than 650 employees across its offices.
BK Medical’s President and CEO, Brooks West, said, “We are immensely proud of the intraoperative imaging and surgical navigation platform that we have developed at BK. The partnership with Altaris has enabled BK to accelerate our growth and thrive as an independent organization, and we now look forward to integrating our technology with GE Healthcare’s formidable imaging expertise and global presence as we continue to advance the standard of care for surgical interventions.”
J.P. Morgan Securities LLC served as lead financial advisor, Morgan Stanley & Co. LLC served as financial advisor and Latham Watkins LLP and Schiff Hardin LLP acted as legal counsel for BK Medical.
Altaris is an investment firm focused exclusively on the healthcare industry. Altaris seeks to invest in companies that deliver value to the healthcare system and improve patient outcomes by providing innovative products and services. Since inception in 2003, Altaris has invested in more than 40 companies across its five main investment funds. Altaris has $5.9 billion of equity capital under active management and is headquartered in New York, NY. For more information, please visit www.altariscap.com.