WAYNE, PA — Inverness Graham announced that its portfolio company, Innovia Medical, has completed the acquisitions of Grace Medical and Hurricane Medical, marking a significant expansion in its surgical product offerings and manufacturing capabilities.
The dual acquisitions advance Innovia Medical’s strategy to become a leading vertically integrated manufacturer of physician-preferred, single-use surgical products. The combined company will now have a stronger focus on Ear, Nose and Throat (ENT) and ophthalmic procedures, as well as sterile processing systems.
Memphis-based Grace Medical is a major producer of single-use surgical implants and instruments for ENT surgeries. The company brings a strong lineup of proprietary products backed by more than 20 patents, robust in-house manufacturing, and deep relationships with physicians — assets that will help drive Innovia’s continued growth in the ENT space.
Meanwhile, Hurricane Medical, located in Bradenton, Florida, specializes in single-use ophthalmic surgical products and instruments used across a range of eye surgeries. The company’s purpose-built, automated production facility will boost Innovia’s manufacturing scale and support accelerated growth in ophthalmology.
“The additions of Grace Medical and Hurricane Medical represent a truly exciting milestone in Innovia’s journey and will be transformational to the growth of the combined business,” said Aliya Khaydarova, Managing Principal at Inverness Graham. She noted that these acquisitions will significantly expand Innovia’s presence in high-growth markets, strengthen its product portfolio, and create new opportunities for customer synergies.
Innovia Medical CEO Terry Meredith echoed that sentiment, emphasizing the value of integrating trusted, physician-focused products. “Both companies bring clinically differentiated, trusted products and strong customer relationships that align with Innovia’s focus on providing innovative, physician-preferred solutions,” Meredith said. “The combination of our three businesses is an exciting step forward as we enhance our offerings to ENT and ophthalmic surgeons around the world.”
Faegre Drinker Biddle & Reath served as legal counsel and Robert W. Baird acted as exclusive financial advisor to Inverness Graham. Terms of the deals were not disclosed.
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