Advanced Instruments (Patricia Industries) Completes Acquisition of Nova Biomedical

Isto Biologics Acquires NovaBone Products LLC

August 4, 2026

Healthcare Services

Isto Biologics announced the acquisition of NovaBone Products LLC, a developer and manufacturer of synthetic bone graft products, from Halma plc. The deal, supported by Keensight Capital, adds NovaBone’s bioactive glass technologies to Isto’s bone graft substitutes platform and expands its geographic reach and surgical end-market presence.

Aspen Medical Products Acquires Advanced Orthopaedics

January 29, 2025

Medical Devices

Aspen Medical Products, the Irvine-based spinal orthopedics manufacturer, has acquired Advanced Orthopaedics, a manufacturer and supplier of bracing solutions and orthopedic soft goods. The acquisition expands Aspen’s product portfolio into the bracing and supports market and is intended to strengthen service to distributors, hospitals, DME suppliers and retail partners while enhancing Aspen’s global reach.

Advanced Instruments Acquires Artel

April 26, 2022

Medical Devices

Advanced Instruments has signed an agreement to acquire Artel, a Westbrook, Maine-based provider of calibration and validation instruments, consumables, software and services for life-science laboratories. The add-on transaction is funded by Patricia Industries and Advanced Instruments (with external debt), values Artel at an upfront ~$85m with contingent payments of up to $55m, and is intended to expand Advanced Instruments' liquid-handling portfolio and R&D capabilities.

Advanced Instruments Acquires Solentim

August 5, 2021

Medical Devices

Advanced Instruments has signed a definitive agreement to acquire Solentim for approximately USD 240 million, in a strategic add-on funded mainly with equity from Patricia Industries. The acquisition expands Advanced Instruments' bioprocessing instruments and consumables portfolio and combines complementary imaging, automation and single-cell cloning capabilities; Solentim is headquartered in Bournemouth, United Kingdom, and reported ~USD 17m revenue and ~USD 5m adjusted EBITDA for the 12 months to June 2021.

Patricia Industries Acquires Advanced Instruments

September 28, 2020

Medical Devices

Patricia Industries, part of Investor AB, has completed the acquisition of US-based Advanced Instruments, a global leader in osmolality testing instrumentation and consumables, from Windjammer Capital. The deal values Advanced Instruments at an enterprise value of USD 780 million; Patricia Industries injected roughly USD 619–620 million of equity for majority ownership. Advanced Instruments (headquartered in Norwood, Massachusetts) serves clinical, biopharmaceutical and food & beverage markets and reported approximately USD 72 million in sales for the 12 months ending June 30, 2020.

Patricia Industries (Investor AB) Acquires Advanced Instruments from Windjammer Capital

September 1, 2020

Medical Devices

Patricia Industries, part of Investor AB, has signed an agreement to acquire Advanced Instruments, LLC from Windjammer Capital for an enterprise value of $780 million. Advanced Instruments, headquartered in Norwood, Massachusetts, is a manufacturer of scientific and analytical instruments serving the clinical, biotechnology and food & beverage markets; the transaction is expected to close in Q4 2020 subject to regulatory approvals.