ONCAP became the largest single shareholder in Biomerics in July 2023, partnering with the Wasatch Group and management team. The transaction was done in conjunction with the sale of ONCAP's Precision Concepts medical business to Biomerics.
Biomerics is a leading vertically integrated medical device contract manufacturer focused on micro-plastics, micro-metals, image-guided intervention, and final device assembly for high growth interventional sectors. Biomerics operates thirteen facilities in the United States, Ireland, Dominican Republic, and Costa Rica and is an industry leader in materials, interventional medical plastics, complex extrusion, micromachining of metals and polymers, laser processing, balloons & balloon catheters, advanced catheters & steerables, image guided intervention, and finished device assembly.
ONCAP was attracted to Biomerics due to its (i) market leadership in the fast-growing interventional CDMO space, (ii) large addressable market with compelling tailwinds, (ii) compelling customer and vertical integration synergies with Precision Concepts, and (iv) fragmented industry with pipeline of actionable M&A targets.