SK Capital acquires LISI medical arm, unveils Precera Medical

SK Capital has formally completed its acquisition of the medical division carved out from LISI Group, rebranding the business as Precera Medical and relocating its headquarters to Big Lake, Minnesota. The deal — which closed on October 31, 2025 — turns the unit into an independent contract development and manufacturing organisation (CDMO) focused on high-precision components for advanced medical devices.

Precera Medical brings together a network of production capabilities: four manufacturing sites (two in Minnesota and two in France) plus engineering, prototyping and automated assembly operations. The business supplies precision parts and assemblies used in surgical robotics, minimally invasive instrumentation, orthopaedics and interventional therapies — niches where tolerances, traceability and regulatory compliance are paramount.

At the top of the new organisation, PE-backed management changes are immediate. Industry veteran Dylan Hushka has been named Chief Executive Officer; Hushka joins from a leadership role running DuPont’s healthcare CDMO business and brings prior senior experience across medical supply and device firms. Barry Lederman joins as Chief Financial Officer, returning to work with the sponsor after CFO roles in healthcare organisations previously supported by the firm.

Strategic governance will be guided by an advisory board that blends SK Capital representation and external sector experts. The board includes SK Capital operating and investment leaders alongside healthcare manufacturing figures such as Chris Qualters, Art Burghouwt and Brian Hutchison. LISI Group retains a minority stake in the new company, providing continuity with legacy manufacturing know-how while enabling independent growth under private ownership.

Financial structure for the transaction combined equity from SK Capital with debt facilities provided by investors including Partners Group and financing teams at Deutsche Bank. External advisors and legal counsel were engaged on both sides as the purchaser repositioned the unit for growth and carve‑out operational separation.

Market context underpins the strategic rationale. OEMs in medtech increasingly outsource complex, precision manufacturing to specialised CDMOs to accelerate time-to-market and reduce capex exposure. Industry estimates suggest outsourced device manufacturing represents a multibillion-dollar segment and is expanding at a mid-single-digit CAGR, driven by adoption of robotic surgery, minimally invasive platforms and the need for scale in assembly and quality systems. For SK Capital — a firm managing roughly $10 billion in assets — the buyout aligns with a broader thesis of investing in specialty materials and life sciences supply chains.