KKR, Hologic and Ajax Health Create New Platform to Accelerate Medical Device Innovation
November 30 2023 - 6:00AM
Business Wire
Platform Will Focus on Technologies to Detect
Lung Cancer, the Leading Cause of Cancer Deaths
KKR, a leading global investment firm, today announced a new
platform established with investments from KKR and Hologic, Inc.
(Nasdaq: HOLX), a global leader in women’s health and medical
technology innovator. The new platform, named Maverix Medical, will
be managed by Ajax Health under the leadership of Duke Rohlen.
Maverix will develop and acquire innovative technologies and
commercial operations within the lung cancer disease category. Lung
cancer is the leading cause of cancer deaths worldwide. Each year,
more people die of lung cancer than of colon, breast and prostate
cancers combined.1
KKR and Ajax Health will contribute existing portfolio company
Serpex Medical to the platform. Serpex Medical develops innovative
steerable technology that can precisely target lung tissue for
biopsy or delivery of therapy.
“We have long admired the life-changing technologies pioneered
by Hologic and are delighted to combine our collective resources to
establish this new platform led by our long-time executive partner
Duke Rohlen,” said Ali Satvat, Partner, Co-Head of Americas Health
Care and Global Head of Health Care Strategic Growth at KKR. “This
unique strategic partnership has enormous potential to develop,
advance and bring to market differentiated devices and diagnostics
and enable meaningful treatments for lung cancer patients.”
“This strategic partnership strongly aligns with our leadership
in diagnostic innovation and early cancer detection,” said Steve
MacMillan, Chairman, President and Chief Executive Officer of
Hologic. “Together with Ajax and KKR, we are excited to partner on
a platform that leverages our strengths and expertise to target new
disease categories, such as lung cancer, and that will allow us to
continue to enable healthier lives everywhere, every day.”
“This is an ideal strategic collaboration for developing winning
medical technologies that drive transformational growth and deliver
patient impact. The Ajax team is eager to contribute our successful
experience building portfolios of innovative products to Hologic’s
world-class commercial and strategic capabilities and KKR’s
approach to scaling companies and supporting growth together to
create value and improve patient outcomes,” said Duke Rohlen.
KKR is investing in Maverix through its Health Care Strategic
Growth strategy. Additional terms of the transaction were not
disclosed.
About Ajax Health
Ajax builds growth engines that generate innovative product
portfolios to catalyze value creation for larger, commercial-stage
MedTech companies. Backed by premier global private equity firms
including KKR, the Ajax team draws on 20+ years of experience as
entrepreneurs, operators and investors. Ajax Health is
headquartered in Menlo Park, CA with offices in New York City, Los
Angeles and Austin. For more information, please visit
www.ajaxhealth.com.
About Hologic, Inc.
Hologic, Inc. is a global medical technology innovator focused
on improving the health and well-being of women, their families and
communities through early detection and treatment. Its advancements
include invention of the world’s first commercial 3D mammography
system to find breast cancer earlier; leadership in testing for
cervical cancer, sexually transmitted infections and respiratory
illnesses; minimally invasive surgical technologies for uterine
fibroids and abnormal uterine bleeding; and advanced vessel sealing
and dissection devices. For more information about Hologic, visit
www.hologic.com.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
Forward-Looking Statements
This news release may contain forward-looking information that
involves risks and uncertainties, including statements about the
use of Hologic products. There can be no assurance these products
will achieve the benefits described herein or that such benefits
will be replicated in any particular manner with respect to an
individual patient, as the actual effect of the use of the products
can only be determined on a case-by-case basis. In addition, there
can be no assurance that these products will be commercially
successful or achieve any expected level of sales. Hologic
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statements presented
herein to reflect any change in expectations or any change in
events, conditions or circumstances on which any such data or
statements are based.
Hologic and The Science of Sure are trademarks and/or registered
trademarks of Hologic, Inc. and/or its subsidiaries in the United
States and/or other countries.
1 World Health Organization. Cancer.
https://www.who.int/news-room/fact-sheets/detail/cancer Last
accessed November 12, 2023.
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version on businesswire.com: https://www.businesswire.com/news/home/20231129739853/en/
Hologic Investors: Ryan Simon Vice President, Investor
Relations +1 858.410.8514 ryan.simon@hologic.com
Hologic Media: Bridget Perry Director, Corporate
Communications +1 508.263.8654 bridget.perry@hologic.com
KKR: Miles Radcliffe-Trenner +1 212.750.8300
media@kkr.com
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