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Connell C - LB Mar 2022

CVC Fund VIII invests in Spectrum Medical Group

CVC Capital Partners VIII has invested in Gloucester-based medical device company Spectrum Medical Group, valuing the company at up to £1billion.

Spectrum Medical has grown over the past few years by introducing new technologies to the cardiac bypass and intensive care unit sector.

Steve Turner, founder and chief executive of Spectrum Medical, said: “It is a privilege to welcome CVC as our newest investor and represents a significant endorsement of the company we have built over the last 15 years. We chose CVC as our partner given their extensive experience in healthcare and their global presence, which we believe will help further accelerate our growth. We are very much looking forward to working with CVC to transform the cardiac space.”

Cathrin Petty, managing partner and Phil Robinson, senior managing director at CVC, stated: “We are thrilled to invest in Spectrum Medical, a true innovator in the cardiac space that is facilitating improved patient outcomes through a unique ecosystem of products. CVC funds invest in companies with leaders in their respective industries and Spectrum Medical is no exception.”

CVC was advised by PwC and Freshfields; Spectrum Medical was advised by PwC, BPE Solicitors and Rothschild & Co.

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