(06:02 GMT) *EQT to Buy TachoSil Biosurgery Business From Corza Medical (06:03 GMT) *EQT: With Transaction, EQT X Expected to Be 80%-85% Invested (06:29 GMT) EQT to Buy Corza Biosurgery Unit From Corza Medical
By Dominic Chopping
STOCKHOLM--Swedish buyout group EQT agreed to buy Corza Biosurgery, a business built around a specialty medical patch known as TachoSil that stops bleeding and seals tissue during surgery.
EQT will buy Corza Biosurgery from Corza Medical.
"EQT will support TachoSil and its management team, led by Thierry Leclercq, in their next phase of growth by investing in commercial acceleration, indication and geographic expansion, innovation, and by building out a broader biosurgery platform through M&A," the Swedish company said.
Corza Biosurgery has a specialized manufacturing facility in Linz, Austria, and employs around 400 people globally.
Upon closing of the transaction, Sheri McCoy, former chair of Johnson & Johnson's Surgical Care Group, will serve as chair of the standalone company.
Financial terms weren't disclosed, but EQT said that with the transaction, the EQT X fund is expected to be 80%-85% invested.
Closing is expected in the fourth quarter, subject to customary conditions and approvals.
Write to Dominic Chopping at dominic.chopping@wsj.com