Biocoat, Inc. Announces Strategic Investment by GTCR

 // News

November 2  

Investment to Support Continued Growth and Expansion of Leading Specialty Provider  of Biocompatible Hydrophilic Coatings for Medical Devices 

HORSHAM, PA November 2, 2022 – Biocoat, Inc., a leading specialty manufacturer of  hydrophilic biomaterial coatings, services and dip-coating equipment for medical devices, announced today that GTCR, a leading private equity firm, has made a strategic investment in  the Company. The transaction closed on November [1], 2022. 

Biocoat offers a full-service solution for biocompatible hydrophilic coatings used on medical  devices in the neurovascular, cardiovascular, peripheral, and ophthalmic markets to original  equipment manufacturers, start-up companies and contract manufacturers. Biocoat’s  customers benefit from industry-leading coating performance, industry-leading service from  initial engagement through final production for new devices, and a line-up of unique dip coating  equipment designed to maximize throughput.  

The recapitalization of Biocoat will enable the Company to continue its impressive growth in the  biomaterial coatings market and will open opportunities for global growth, enhanced product  offerings and manufacturing facility expansion. Biocoat’s existing majority investor, 1315  Capital, a healthcare growth equity firm based in Philadelphia, will retain a minority stake in the  Company. Since its acquisition by 1315 Capital in 2018, Biocoat has grown exponentially in its  people, R&D product innovations, and full-service development capabilities.  

“It has been our pleasure to work with the Biocoat team as the business has transformed over  the past four years,” said Michael Koby, Founding Partner at 1315 Capital. “We are excited for  their next phase in partnership with GTCR, as the Company continues to build upon their  market-leading position.” 

“I am very proud of the Biocoat team, which has flawlessly executed on our aggressive growth  strategies over the past several years,” said Jim Moran, President and CEO of Biocoat. “The  GTCR team brings a wealth of industry knowledge and extensive experience in growing  profitable, industry-leading organizations. With this added support, Biocoat will continue to  focus on expanding our industry leading biomaterial product lines and supporting our customers  with the level of excellence they have come to expect.”  

Luke Marker, Managing Director at GTCR, added, “As a firm with deep experience in the  medical device industry, we are excited to partner with the talented Biocoat management team  and continue to build the Company into a leading player in the medical coatings space. The  Biocoat team deserves an immense amount of credit for growing the organization this quickly  and helping to ensure that its impressive momentum over the past several years can be  sustained well into the future.”

About GTCR 

Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build  market-leading companies through organic growth and strategic acquisitions. GTCR is focused  on investing in transformative growth in companies in the Business & Consumer Services,  Financial Services & Technology, Healthcare and Technology, Media & Telecommunications  sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies,  and the firm currently manages over $27 billion in equity capital. GTCR is based in Chicago with  offices in New York and West Palm Beach. For more information, please visit  Follow us on LinkedIn. 

About Biocoat, Inc. 

Biocoat, Inc. is a full-service coatings provider specializing in supplying lubricious hydrophilic  coatings custom engineered to meet specific clinical parameters for medical devices to original  equipment manufacturers, start-up companies, and contract manufacturers. Biocoat also  provides coating services and dip-coating equipment to medical device companies that require  assistance with manufacturing. 

To learn more about Biocoat visit, call +1 215-734-0888 or connect on LinkedIn and  Twitter. 

About 1315 Capital 

1315 Capital is a private investment firm with over $925 million under management that provides  expansion and growth capital to commercial-stage healthcare services, medical technology,  therapeutics, and pharmaceutical services companies. 1315 Capital targets markets where high-quality  management teams can rapidly scale platform companies into large and important businesses that  positively impact patients, physicians, and the broader healthcare system. For more information, visit

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