Boyu Capital is considering a sale of Singapore-based medical device maker Quasar Medical, according to sources. The firm acquired Quasar from Longreach Group in 2023 in a deal valued at over $600 million. Boyu is in early discussions with advisers about a divestment that could value the company at more than $1 billion.
Established in 1988, Quasar is a contract development and manufacturing organization (CDMO) serving the medical device industry. The company operates 11 facilities and employs approximately 5,000 people globally. It provides outsourced design and production services for major clients including Johnson & Johnson, Medtronic Plc, Abbott Laboratories, and Boston Scientific Corp. Deliberations are preliminary and may not result in a transaction.
Representatives for Boyu and Quasar did not immediately respond to requests for comment.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing