French private equity firm Keensight Capital announced it has agreed to acquire a majority stake in Isto Biologics from Thompson Street Capital Partners.
Founded in 2016, Isto Biologics is a regenerative MedTech company developing and manufacturing orthobiologic products to help patients heal faster. Isto’s product offering covers six functional areas of unique bone graft solutions, and includes a range of allografts, which are notably used for bone repair in the spine. Isto sells its products to more than 400 hospitals and clinics, which are used in 15,000 surgical procedures per month, primarily in the United States.
Keensight Capital is a European growth buyout firm. With more than 25 years of experience and €5.5 billion of assets under management, Keensight Capital’s team of professionals leverages their differentiated private equity experience to invest in profitably growing companies generating revenues in the range of €10 million to €400 million. Drawing on its expertise in the technology and healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with the management teams providing capital, strategic guidance and operational support. Keensight operates in more than 90 countries across the globe with a presence in Paris, London, Boston and Singapore.
Thompson Street Capital Partners will retain a minority stake, alongside Isto Biologics’ management team. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this marks the 65th Medical Device transaction of 2025. There were 87 Medical Device deals announced during 2024, 112 announced in 2023 and 125 announced during 2022.
