Roots Equity Group acquires Innovasis Medical, names Matt Stuttle CEO
Roots Equity Group, a Los Angeles-based family office investment firm, has announced the acquisition of Innovasis, a Salt Lake City-based medical device company specializing in the design, manufacture and distribution of implants used in treating musculoskeletal and orthopedic disorders.
As part of the transaction, Matt Stuttle, a seasoned health care executive and medical technology industry veteran, has been appointed CEO.
“I’m honored to lead this incredible organization and its world-class team into the next phase of transformative growth,” said Stuttle. “Our integrated capabilities and commitment to innovation position us to deliver life-changing therapies for years to come. As we continue to expand our platform and reach, we remain unwavering in our mission to provide differentiated, high-quality treatment solutions that improve patient outcomes and support the health care professionals who depend on us.”
Innovasis’ longtime chairman, Brent Felix, who is transitioning out of the role, expressed support for the leadership change and optimism about the company’s future.
“I couldn’t be more excited about what lies ahead for Innovasis. I am incredibly proud of our team and what they have achieved over nearly two decades. Our implants have helped thousands of patients around the world, yet we truly believe the best is still to come. I certainly understand the critical need for continued innovation. Providing surgeons, hospitals and, most importantly, patients and their families with meaningful, life-changing therapies is essential. I have full confidence in Matt’s leadership and deep appreciation for the strong capital partners at Roots Equity Group who will guide Innovasis into its next chapter.”
Financial terms of the transaction were not disclosed.
Roots Equity Group invests in companies across the health care, industrial technology and essential services sectors and focuses on long-term, operationally driven investments designed to foster sustainable innovation, strategic growth and value creation.
Innovasis designs, manufactures and markets implants and surgical systems used by hospitals, outpatient surgical centers and surgeons worldwide.