- Spectrum Medical Group is valued at up to £1 billion in the deal
- CVC Fund VIII raised €22.3 billion in 2020
- Spectrum develops high-performance medical technologies in the cardiac bypass and ICU sectors
CVC Capital Partners has signed a definitive partnership agreement with Spectrum Medical Group via CVC Fund VIII to support the growth of Spectrum. The deal values Spectrum at up to £1 billion.
Spectrum develops high performance medical technologies in the cardiac bypass and ICU sectors and is focused on becoming a single solutions provider of technologies that include quantum perfusion systems, quantum informatics and quantum sterile technologies. Spectrum is headquartered in Gloucester in the UK.
Luxembourg-headquartered CVC Capital Partners’ private equity platform manages €85 billion of assets and comprises four strategies: Europe/Americas, Asia, strategic opportunities and growth.
“We are thrilled to invest in Spectrum Medical, a true innovator in the cardiac space that is facilitating improved patient outcomes through a unique ecosystem of products,” said Cathrin Petty, managing partner, and Phil Robinson, senior managing director, at CVC. “CVC funds invest in companies with leaders in their respective industries and Spectrum Medical is no exception. We are excited to back Spectrum on the next stage of their journey.”
“It is a privilege to welcome CVC as our newest investor and represents a significant endorsement of the company we have built over the last 15 years,” said Steve Turner, founder and CEO at Spectrum Medical. “We chose CVC as our partner given their extensive experience in healthcare and their global presence, which we believe will help further accelerate our growth. We are very much looking forward to working with CVC to transform the cardiac space.”