KKR, Hologic and Ajax Health Create New Platform to Accelerate Medical Device Innovation
Platform Will Focus on Technologies to Detect Lung Cancer, the Leading Cause of Cancer Deaths
NEW YORK & MARLBOROUGH, Mass.–(BUSINESS WIRE)–KKR, a leading global investment firm, today announced a new platform established with investments from KKR and Hologic, Inc. (Nasdaq: HOLX), a global leader in women’s health and medical technology innovator. The new platform, named Maverix Medical, will be managed by Ajax Health under the leadership of Duke Rohlen.
Maverix will develop and acquire innovative technologies and commercial operations within the lung cancer disease category. Lung cancer is the leading cause of cancer deaths worldwide. Each year, more people die of lung cancer than of colon, breast and prostate cancers combined.1
KKR and Ajax Health will contribute existing portfolio company Serpex Medical to the platform. Serpex Medical develops innovative steerable technology that can precisely target lung tissue for biopsy or delivery of therapy.
“We have long admired the life-changing technologies pioneered by Hologic and are delighted to combine our collective resources to establish this new platform led by our long-time executive partner Duke Rohlen,” said Ali Satvat, Partner, Co-Head of Americas Health Care and Global Head of Health Care Strategic Growth at KKR. “This unique strategic partnership has enormous potential to develop, advance and bring to market differentiated devices and diagnostics and enable meaningful treatments for lung cancer patients.”
“This strategic partnership strongly aligns with our leadership in diagnostic innovation and early cancer detection,” said Steve MacMillan, Chairman, President and Chief Executive Officer of Hologic. “Together with Ajax and KKR, we are excited to partner on a platform that leverages our strengths and expertise to target new disease categories, such as lung cancer, and that will allow us to continue to enable healthier lives everywhere, every day.”
“This is an ideal strategic collaboration for developing winning medical technologies that drive transformational growth and deliver patient impact. The Ajax team is eager to contribute our successful experience building portfolios of innovative products to Hologic’s world-class commercial and strategic capabilities and KKR’s approach to scaling companies and supporting growth together to create value and improve patient outcomes,” said Duke Rohlen.
KKR is investing in Maverix through its Health Care Strategic Growth strategy. Additional terms of the transaction were not disclosed.
About Ajax Health
Ajax builds growth engines that generate innovative product portfolios to catalyze value creation for larger, commercial-stage MedTech companies. Backed by premier global private equity firms including KKR, the Ajax team draws on 20+ years of experience as entrepreneurs, operators and investors. Ajax Health is headquartered in Menlo Park, CA with offices in New York City, Los Angeles and Austin. For more information, please visit www.ajaxhealth.com.
About Hologic, Inc.
Hologic, Inc. is a global medical technology innovator focused on improving the health and well-being of women, their families and communities through early detection and treatment. Its advancements include invention of the world’s first commercial 3D mammography system to find breast cancer earlier; leadership in testing for cervical cancer, sexually transmitted infections and respiratory illnesses; minimally invasive surgical technologies for uterine fibroids and abnormal uterine bleeding; and advanced vessel sealing and dissection devices. For more information about Hologic, visit www.hologic.com.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Forward-Looking Statements
This news release may contain forward-looking information that involves risks and uncertainties, including statements about the use of Hologic products. There can be no assurance these products will achieve the benefits described herein or that such benefits will be replicated in any particular manner with respect to an individual patient, as the actual effect of the use of the products can only be determined on a case-by-case basis. In addition, there can be no assurance that these products will be commercially successful or achieve any expected level of sales. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in expectations or any change in events, conditions or circumstances on which any such data or statements are based.
Hologic and The Science of Sure are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.
1 World Health Organization. Cancer. https://www.who.int/news-room/fact-sheets/detail/cancer Last accessed November 12, 2023.
Contacts
Hologic Investors:
Ryan Simon
Vice President, Investor Relations
+1 858.410.8514
ryan.simon@hologic.com
Hologic Media:
Bridget Perry
Director, Corporate Communications
+1 508.263.8654
bridget.perry@hologic.com
KKR:
Miles Radcliffe-Trenner
+1 212.750.8300
media@kkr.com
