RTI Surgical announced that it has signed a definitive agreement to acquire Cook Biotech from Bloomington, Indiana-based Cook Group.
Founded in 1995, Cook Biotech develops and manufactures porcine small intestinal submucosa (SIS) products for a variety of clinical applications; these products have over 50 cleared regulatory indications. Cook Biotech’s products are derived from SIS’s naturally occurring, intact extracellular matrix using proprietary manufacturing processes. This material acts as a scaffold that allows host cells to infiltrate and remodel into vascularized tissue. The company is headquartered in West Lafayette, Indiana.
RTI Surgical is a medical device company and contract development and manufacturing organization that develops biologic implants for use in wound care, orthopedics and other surgical specialties. The company was founded in 1998 after spinning off from the University of Florida Tissue Bank. RTI began operations as Regeneration Technologies in Alachua, Florida. Its main shareholder is Montagu Private Equity.
The transaction is expected to close in Q1 2024. RTI’s acquisition of Cook Biotech is backed by its main investor Montagu, which is increasing its investment in the group and contributing carve-out experience and capabilities to the transaction. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction represents the fifth Medical Devices acquisition of 2024. During 2023, there were 109 Medical Device transactions announced.
