3B Scientific, a portfolio company of JH Whitney Capital Partners, has signed an agreement to acquire iSimulate for an undisclosed amount.
Founded in 2011 by Peter McKie and Anthony Lewis, iSimulate provides clinical education technology and medical simulation solutions.
Under the agreement, iSimulate will continue its operations from Canberra, Australia and Albany, New York, following completion of the acquisition.
Furthermore, iSimulate CEO Peter McKie, Anthony Lewis and iSimulate Americas president Bobby Syed will continue working with the company, making a business plan for the organisation.
iSimulate CEO Peter McKie said: “We are proud of the progress we have made with our company and Anthony, Bobby and I decided that the 3B Scientific team would be the best partner for us to expand and grow the business in the years to come.
“We are excited for the next step in our journey and appreciate the support from our customers worldwide. We look forward to working closely with Todd and his team.”
The acquisition is forecast for completion in the first quarter of this year.
3B Scientific CEO Todd Murray said: “iSimulate has revolutionised simulation training in healthcare through its creative simulation solution,s including ALSi, REALITi, CTGi and AURiS.
“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.”
Established in 1948 in Hamburg, Germany, 3B Scientific manufactures anatomical models and supplies medical simulation products for healthcare skill training.