(Bloomberg) -- Vivo Capital is considering a sale of medical device maker Surgical Specialties Corp. that could fetch more than $500 million, people with knowledge of the matter said.
Vivo Capital is working with an adviser on a potential sale for the manufacturer of medical products such as sutures, needles and surgical knives, said the people, who asked not to be identified as the information is private. The healthcare-focused investment firm has reached out to several prospective suitors to gauge interest, the people said.
Deliberations are at an early stage and they may not lead to a transaction, the people said. Representatives for Vivo Capital and Surgical Specialties didn't immediately respond to requests for comment.
Any deal is going to add to the $482 billion healthcare-related transactions announced globally so far this year, data compiled by Bloomberg shows.
Headquartered in Massachusetts, Surgical Specialties makes branded and private label as well as OEM products. It has manufacturing facilities in the U.S., Mexico, England, Germany and China, according to its website.
Vivo Capital and ZQ Capital Ltd., a China-based investment and advisory firm, led a group of investors to acquire Angiotech Pharmaceuticals for an undisclosed amount in 2017. Angiotech was later renamed as Surgical Specialties.
To contact the reporters on this story: Vinicy Chan in Hong Kong at vchan91@bloomberg.net;Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.net
To contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Philip Glamann
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