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October 26, 2022

Standard Bariatrics Acquired by Teleflex

RC Capital is pleased to announce that Fund VI portfolio company Standard Bariatrics has sold to Teleflex, a leading global provider of medical technologies, for $300 million with $170 million at closing and up to $130 million payable upon the achievement of certain commercial milestones. The valuation multiple for the Standard Bariatrics sale represents our fourth top decile valuation multiple ascribed to an RCC med tech company in the last 24 months.

Standard Bariatrics develops anatomy-based laparoscopic devices for use in sleeve gastrectomy, a common weight management procedure employed by bariatric surgeons. Obesity is a major contributor to life threatening and disabling conditions in the U.S. including sleep apnea, arthritis, heart failure, diabetes, cancer and several others. With roughly 42% of the U.S. population qualified as obese, it is a major contributor of death, disability and cost in the healthcare system. The Company’s Titan device allows for consistent sleeves using data driven science that makes the surgical procedure safer, faster and more cost effective to the health system.

“What a journey it has been. We are grateful to our employees, surgeon customers, suppliers and investors for their belief in our quest to provide more consistent, repeatable outcomes for bariatric surgeons and their patients. We are excited about the next chapter partnering with Teleflex to accelerate our growth and innovation,” says Matt Sokany, CEO of Standard Bariatrics.

 This marks the fourth liquidity event for Fund VI since the Fund’s inception in 2018.

“Standard Bariatrics is a great example of an innovative company that advances the triple aim: Improving the patient experience in the care journey, improving the health of patients and reducing the cost of health care. The team has done an extraordinary job executing on the business over the last two years to create tremendous value to patients and clinicians,” says Carter McNabb, RC Capital Managing Director.