RTI Surgical Announces Agreement to Acquire Cook Biotech from Cook Group
January 8, 2024
Reinforces RTI’s position as leading regenerative medicine CDMO by expanding its differentiated portfolio of allograft and xenograft biomaterials.
Creates a platform with a unique breadth of capabilities and access to clinical segments.
Together, RTI Surgical and Cook Biotech have distributed more than 17 million implants that have improved the lives of patients around the world.
ALACHUA, Fla., January 8, 2024 - RTI Surgical, an industry-leading contract development and manufacturing organization (CDMO), serving the regenerative medicine industry, announced today that it has signed a definitive agreement to acquire Cook Biotech Incorporated, a leader in advanced tissue-repair products from biomaterials, headquartered in West Lafayette, Indiana.
With the acquisition of Cook Biotech, RTI Surgical is taking another landmark step to reinforce its position as a unique CDMO in regenerative medicine. The combined entity will provide customers and surgeons access to new clinical segments and offer leading-edge expertise, scale and flexibility across end-to-end services including design, development, regulatory support, verification and validation, manufacturing and supply chain management. The acquisition will also reinforce RTI’s strategic focus on soft tissue clinical segments and enable its customers to leverage a clinically proven portfolio of naturally occurring bioresorbable materials designed to improve patients’ lives and outcomes.
Cook Biotech discovered the regenerative properties of porcine small intestinal submucosa (SIS) and pioneered the development of SIS tissue into a proven, regenerative biomaterial that is used in a variety of clinical applications. With the support of Cook Group, Cook Biotech has remained at the forefront of innovation in biomaterials and contributed to progressing science and solving unmet patient needs in fields such as nerve repair, cardiovascular, and drug delivery.
Olivier Visa, RTI Surgical president and chief executive officer, said: “We are uniquely positioned to become a leading CDMO in regenerative medicine as an innovator of differentiated allograft and xenograft biomaterials, and we look forward to welcoming the Cook Biotech team and leveraging their world-class talents and capabilities in xenograft development and processing to better address patient needs together.”
RTI’s acquisition of Cook Biotech is backed by its main shareholder Montagu, who is increasing its investment in the group and contributing carve-out experience and capabilities to the transaction.
Adrien Sassi, partner at Montagu, said: “We are committed to supporting both companies in reaching their full potential by leveraging proven technologies to create a platform for innovation that enables surgeons to better address the unique needs of their patients. We are excited to extend our support to RTI’s development and proud that Cook Group are trusting us for Cook Biotech’s next phase of development.”
The transaction is expected to close in Q1 2024.