Bolder Surgical Acquired by Hologic, Inc.
RCC is pleased to announce that Fund VI portfolio company Bolder Surgical has sold to Hologic, Inc. (Nasdaq: HOLX), a global leader in women’s health, for $160 million. The valuation multiple ascribed to Bolder represents our third top decile valuation multiple ascribed to an RCC med tech company in the last 12 months.
Bolder Surgical manufactures surgical devices designed to address unmet pediatric, robotic, laparoscopic and micro laparoscopic surgical needs. The company’s focus lies in the development of right-sized surgical devices in order to improve procedural approaches and minimize incisions, enabling pediatric and general surgeons to safely and effectively perform minimally invasive surgery in pediatric and adult patients.
“RCC led our Series B round and took a Board seat. Throughout the due diligence process and term negotiations, RCC demonstrated their knowledge and experience in medical devices and specifically the markets Bolder Surgical was active in,” says Robert Kline, President and CEO of Bolder. “Their counsel and support during our growth phase were invaluable in guiding our leadership team and our ultimate successful exit. I highly recommend RCC to any company seeking growth capital.”
“RCC partnered with Bolder Surgical to commercialize some of the more innovative advancements in laparoscopic surgery in the last 20 years,” says Carter McNabb, Managing Partner for RCC. “The team at Bolder, led by Bob Kline and including Dale Smaltz, Rob Luzzi, John Adair and others, steered Bolder up a steep value creation curve consistently hitting milestones in product development, IP advancement and commercial execution over their tenure. RCC was fortunate to partner with this team and believes the platform will reach its full potential under Hologic’s umbrella.”
This marks the third liquidity event for Fund VI in just three years since the Fund’s inception, representing validation of our healthcare-focused strategy.