Apatech

About Apatech

Founded in 2001 by Professor William Bonfield and Philip William Morgan, Apatech emerged as a spin-out from the Queen Mary University of London, specializing in orthobiologic products. The company's creation was built upon the seminal materials research conducted by Bonfield at the university's Interdisciplinary Research Centre in Biomedical Materials. Apatech focused on developing and producing synthetic bone repair materials for surgeons in orthopedic, dental, and spinal procedures.

The company's core business involved the manufacturing and distribution of synthetic bone graft materials. Its flagship product, ACTIFUSE, is a silicate-substituted calcium phosphate synthetic bone graft. This material was engineered to mimic the porous structure of natural bone, acting as a scaffold that stimulates and accelerates the growth of new, high-quality bone. The product line also included ApaPore, a porous hydroxyapatite grafting material, and various delivery systems designed for minimally invasive surgeries. Apatech served a global market, with its products being sold in the United States, the European Union, and other international markets through distribution partners.

Financially, Apatech demonstrated significant growth, attracting venture capital and achieving substantial sales. The company raised over $56 million from investors including MTI, 3i Group, and HealthCor Partners. This funding enabled Apatech to expand its manufacturing capacity, increase its workforce, and advance its research and development. By 2009, the company's sales had reached approximately $60 million. This successful trajectory culminated in a major milestone in March 2010, when Apatech was acquired by Baxter International, a global healthcare company. The definitive agreement was for a total consideration of up to $330 million, including an upfront payment of $240 million and potential milestone payments. The acquisition provided Baxter with Apatech's product portfolio and R&D facilities, enhancing Baxter's position in the orthobiologics and regenerative medicine space.