Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
OnSite Services a division of CareFusion
Sale to Frazier Healthcare Ventures
Baird served as the exclusive financial advisor to CareFusion on this transaction
CareFusion (NYSE: CFN), a leading, global medical technology company, and Frazier Healthcare recently announced they have completed the sale of CareFusion's OnSite Services' instrument management and repair business to affiliates of Frazier Healthcare.
OnSite Services delivers education-based medical instrument repair and instrument management programs to hospital systems domestically. The new company and its 240 employees will continue to deliver operating-room focused workflow improvement programs. Under the terms of an agreement between CareFusion and OnSite Services, OnSite Services will remain the preferred repair organization for CareFusion V. Mueller® and Snowden-Pencer® specialty surgical instruments.
CareFusion is a global corporation serving the health care industry with products and services that help hospitals measurably improve patient care. The company develops market-leading technologies including Alaris® infusion pumps, Pyxis® automated dispensing and patient identification systems, AirLife™, AVEA® and LTV® series of ventilators and respiratory products, ChloraPrep® skin prep products, MedMined™ services for data mining surveillance, V. Mueller® and Snowden-Pencer® surgical instruments and NeuroCare diagnostic products. CareFusion employs more than 15,000 people across its global operations.
Founded in 1991, Frazier Healthcare is a leading provider of growth equity and venture capital to high growth and emerging health care service, biopharma and medical device companies. With over $1.8 billion under management across seven funds, Frazier Healthcare has invested in over 100 companies across the entire developmental spectrum. From seed stage venture investments to leveraged recapitalizations of cash generating companies, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies.