M&A Deal Summary

IBA Acquires Sotera Health

On June 11, 1999, IBA acquired healthcare services company Sotera Health from Summit Partners for 235M USD

Acquisition Highlights
  • This is IBA’s 1st transaction in the Healthcare Services sector.
  • This is IBA’s largest (disclosed) transaction.
  • This is IBA’s 1st transaction in the United States.
  • This is IBA’s 1st transaction in Ohio.
Investment Fate
  • Sotera Health was sold to a consortium of financial buyers in 2004 for 312M USD.
  • Sotera Health was sold to a consortium of financial buyers in 2011 for 675M USD.
  • Sotera Health went public in 2020.

M&A Deal Summary

Date 1999-06-11
Target Sotera Health
Sector Healthcare Services
Buyer(s) IBA
Sellers(s) Summit Partners
Deal Type Add-on Acquisition
Deal Value 235M USD

Target

Sotera Health

Broadview Heights, Ohio, United States
Sotera Health, along with its business entities, provides an integrated protector of global health, providing mission-critical services to the medical device, pharmaceutical, tissue, and food industries. Sotera Health operates 61 facilities in 13 countries. Sotera Health serves more than 5,000 customers worldwide, including 75 of the top 100 medical device manufacturers. Sotera Health was formed in 2015 and is based in Broadview Heights, Ohio.

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Buyer(S) 1

Buyer

IBA

Louvain-La-Neuve, Belgium

Category Company
Founded 1986
Sector Medical Products
Employees1,943
Revenue 498M EUR (2024)
DESCRIPTION

IBA develops innovative solutions by sharing ideas and know-how with customers, partners and leading experts to bring new solutions for the diagnosis and treatment of cancer and for the benefits of patients. IBA was founded in 1986 and is based in Louvain-La-Neuve, Belgium.


DEAL STATS #
Overall 1 of 6
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 5
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 4
Year: 1999 M&A 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 RadioMed

Bartlett, Tennessee, United States

RadioMed Corp. is an implantable fiducial marker used for soft tissue tumor localization for enhanced accuracy in radiation therapy planning and delivery. RadioMed Corp. was established in 1997 and is based in Bartlett, Tennessee.

Buy -

Seller(S) 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 55 of 294
Sector: Healthcare Services M&A 7 of 34
Type: Add-on Acquisition M&A Deals 11 of 131
State: Ohio M&A 2 of 6
Country: United States M&A 53 of 254
Year: 1999 M&A 6 of 13
Size (of disclosed) 28 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-06-09 Ditech Networks

San Jose, California, United States

Ditech Networks, Inc. is a provider of echo cancellation and voice processing solutions, which enable service providers to improve the quality of wireless, wireline, and voice-over-packet networks.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-01 Netcom Systems

Edison, New Jersey, United States

Netcom Systems, Inc. is a diversified consulting company specializing in the development, deployment and support of customized enterprise communications and computing solutions.

Sell -