Keensight Buys Majority Stake in Isto in $1 Billion Deal

European private equity firm Keensight Capital agreed to acquire a majority stake in orthobiologic product maker Isto Biologics from Thompson Street Capital Partners, as the pickup in mid-sized deals continues.

Thomson Street will retain a minority stake, alongside Isto Biologics’ management team, according to a statement seen by Bloomberg News. The transaction is valued at $1 billion, marking one of Keensight’s largest health-care transactions to date, according to people familiar with the matter.

Founded in 2016, Isto Biologics develops and manufactures orthobiologic products including bone graft solutions and applications used for bone repair in the spine. It sells products ...