Avista Healthcare Partners announced it has acquired Bentec Medical from Greyrock Capital Group and Hermitage Equity Partners, strengthening its presence in the medical device manufacturing sector. Financial terms of the transaction were not disclosed.
Founded in 1994 and headquartered in Woodland, California, Bentec Medical specializes in complex silicone components for medical device OEMs and a portfolio of proprietary medical devices used by healthcare providers. Its products serve a wide range of therapeutic areas, including ENT, oncology, aesthetics, biliary surgery, and neonatal care.
Bentec has built a reputation as a trusted supplier to leading medical device companies, hospitals, and surgical centers, supported by strong customer retention, consistent quality performance, and proprietary manufacturing processes. The company’s expertise in silicone applications and in-house production capabilities have positioned it as a key partner in specialized medical device development.
Avista, a New York-based private equity firm focused on healthcare investments, plans to support Bentec’s next phase of growth by investing in innovation, expanding manufacturing capacity, expanding geographically, and pursuing potential strategic acquisitions. The firm has invested more than $10 billion across over 50 healthcare businesses since its founding.
Support: Greyrock Capital Group, which originally invested in Bentec in 2016, will continue to support the company alongside Avista. Advisors on the transaction included Piper Sandler as financial advisor to Bentec, with legal counsel provided by McGuireWoods. Avista was advised by Willkie Farr & Gallagher.
KEY QUOTES:
“Our focus at Bentec is to provide leading OEMs and hospitals with unique capabilities in complex silicone device development and manufacturing. We are very grateful to the Greyrock team for their partnership and are thrilled to be joining forces with our new partner Avista. Our partnership with Avista, who has more than two decades of experience investing in mission-critical medical device and contract manufacturing businesses, will enable us to drive innovation, expand capabilities, and execute strategic acquisitions. We are excited to work together to enhance Bentec’s offerings and deliver even greater value to our customers.”
JG Singh, CEO of Bentec Medical
“Our acquisition of Bentec represents another compelling opportunity for Avista to invest in a highly attractive medical device manufacturing business. Bentec’s technical capabilities, strong customer relationships and reputation for quality make it an excellent fit with Avista’s strategy of scaling healthcare platforms that are deeply embedded in customer workflows. We look forward to partnering with JG Singh and the Bentec team to help drive accelerated growth through investments in innovation, capacity, and geographic expansion.”
Rob Girardi, Partner at Avista Healthcare Partners
“Bentec has been a model Greyrock platform company since our original 2016 investment. Indeed, JG and the senior management team have maintained a first-class company culture as well as built a long track record of operational and financial excellence. Greyrock is very excited to continue to back the Bentec team under its new owner Avista who brings a winning combination of deep healthcare sponsorship expertise and a vision for greater operational scale. Greyrock also commends the Piper Sandler team for running a great process, best positioning Bentec for future growth.”
Sam Snyder, Managing Partner at Greyrock Capital Group
