Business Overview
Founded in 1991, IZI Medical Products (“IZI”) is a provider of high quality medical markers used in image guided surgery (”IGS”), radiology and radiation therapy procedures. IZI’s products range from fiducial markers, used with MRI, CT, and PET technologies, to highly engineered passive reflective markers used during complex IGS procedures. The Company’s medical markers are highly versatile and cross functional and can be used across a broad range of medical specialties including radiation therapy, radiology, orthopedics, and ear, nose, and throat procedures.
Investment Summary
Riverside’s investment thesis for IZI focused on the company’s leading market position in a high growth area of medical disposable products. Specifically, IZI’s line of passive reflective markers has grown rapidly due to the expanding Image-Guided Surgery market. The company has extensive product design, engineering and manufacturing capability which has spawned a number of new product opportunities.
The family owners of IZI sought a healthcare focused financial partner to assist them in the next phase of the company’s growth. Riverside has worked closely with management to expand manufacturing capacity, develop new OEM relationships and to add additional management talent to the organization. These initiatives will allow IZI to enjoy multiple avenues for growth within the minimally invasive surgery and advanced diagnostic imaging procedure markets.