3B Scientific, a portfolio company of J.H. Whitney Capital Partners, LLC has entered into an agreement to acquire iSimulate Pty. Ltd., a clinical education technology offering medical simulation solutions.
“iSimulate has revolutionized simulation training in healthcare through its creative simulation solutions including ALSi, REALITi, CTGi and AURiS,” said Todd Murray, CEO of 3B Scientific. “We are extremely excited to further develop the 3B Scientific platform and add the great products and people of iSimulate to our company. Our 3B Scientific global distribution footprint including fourteen commercial locations is uniquely positioned to further support and accelerate the growth of iSimulate products worldwide.”
After the closing, Peter McKie, Anthony Lewis and Bobby Syed will remain active in the company and continue to drive the business plan for iSimulate. A significant emphasis for strong growth and the development of the product pipeline lies in the active collaboration from and partnership with the experts from 3B Scientific and Cardionics. iSimulate operations will remain unchanged and will continue to be based in both Canberra, Australia and Albany, New York.
The healthcare simulation market has experienced significant growth in the past decade and is estimated to reach USD $2.27 Billion by 2021, according to a 2016 MarketsandMarkets report.
The acquisition is anticipated to be consummated in the first quarter of 2020.
Gibson, Dunn and Crutcher LLP and Clayton Utz are serving as legal advisors to 3B Scientific and J.H. Whitney Capital Partners, LLC. Schwartz Heslin Group, Inc. is acting as a financial advisor to iSimulate, and Pepper Hamilton LLP and MinterEllison are serving as legal advisors to iSimulate.