Altaris and Michelin partner to accelerate Solesis’ growth

TELFORD, Pa.–(BUSINESS WIRE)–Solesis LLC (“Solesis” or the “Company”), the healthcare subsidiary of Compagnie Generale des Etablissements Michelin SCA (“Michelin”), announced today that Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”) has completed the acquisition of a 51% stake in Solesis from Michelin. As part of the transaction, Michelin retained a 49% interest and formalized a research and development initiative to develop advanced polymers for life sciences and medical technology applications.

Solesis is an innovative provider of biomaterials, tools and services for the life science and medical technology industries. Solesis operates through two primary business divisions, The Secant Group and Charter Medical. The Secant Group, which includes SanaVita Medical, is a leading supplier of biomaterials and implantable textile structures that enable repair, recovery and regeneration of human tissue, as well as technical materials for the specialty chemical and aerospace markets. Charter Medical supplies single-use tools for cell culture expansion, cryopreservation and fluid management that are used during the development and manufacturing of biopharmaceuticals, including cell and gene therapies.

About Solesis

Solesis LLC is a life science and medical technology company that operates through its subsidiaries, The Secant Group LLC, SanaVita Medical LLC and Charter Medical LLC. Solesis’ differentiated biomaterials enable customers to deliver advancements in life-saving therapies, with a specific focus on medical device technologies and biopharmaceuticals. Through a wide range of value-added tools and services, Solesis works closely with customers to facilitate innovation by leveraging next generation biomaterials. For more information, please visit https://solesis.com.

About Altaris

Altaris is an investment firm focused exclusively on the healthcare industry. Altaris targets companies that deliver value to the healthcare system by improving patient outcomes, eliminating unnecessary costs, increasing efficiency and aligning stakeholder incentives. Since inception in 2003, Altaris has made more than 40 platform investments. Altaris has $5.6 billion of equity capital under active management and is headquartered in New York, NY. For more information, please visit www.altariscap.com

Contacts

Media Contact
Daniel Nelson
Sr. Director Strategic Marketing
daniel.nelson@secant.com

SOURCE: Business Wire, 1st June 2021