Beaver-Visitec International, Inc., or also known as BVI, agreed to buy Belgium-based ophthalmic company PhysIOL s.a. for an undisclosed amount.
The transaction, backed by TPG Capital Advisors LLC, is expected to close in the first quarter of 2019. Fort Worth, Texas-based TPG Capital bought BVI in 2016.
Waltham, Mass.-based BVI makes ophthalmic and other specialty microsurgical products. PhysIOL makes a complete range of intraocular lenses and ophthalmic surgical equipment.
BVI President Dana Mead said the demand for premium intraocular lenses has surged in recent years, and the acquisition of PhysIOL allows it to become a comprehensive ophthalmic platform.
Deutsche Bank Securities Inc., Goldman Sachs & Co, RBC Capital Markets, and William Blair acted as financial advisers to BVI and TPG, and Ropes & Gray served as legal counsel. Jefferies International is the financial adviser of PhysIOL and Baker McKenzie served as legal counsel.