Medical Devices Acquisitions in New Jersey

Waters Corporation has completed its previously announced combination with the Biosciences and Diagnostic Solutions businesses of Becton, Dickinson and Company (BD) via a Reverse Morris Trust, creating a global life sciences and diagnostics company focused on high-volume regulated testing. The combined company is organized into four divisions to align products, services, and informatics across analytical sciences, biosciences, advanced diagnostics and materials sciences; Waters shareholders own ~60.8% and BD shareholders ~39.2% of the combined company.

GSI Group Holdings, a portfolio platform of L Squared Capital Partners, has acquired GenesisBPS, a designer and manufacturer of benchtop blood processing equipment and laboratory consumables. The add-on expands GSI Group’s capabilities in blood processing workflows and strengthens its global benchtop equipment and consumables platform.

Straits Orthopaedics (Mfg) Sdn Bhd has acquired Medin Technologies, Inc., a U.S.-based manufacturer of sterilization cases and trays that operates facilities in Totowa, New Jersey and Manchester, New Hampshire. The deal expands Straits’ product offerings and global manufacturing footprint for orthopaedic OEM customers; Straits is backed by Quadria Capital.

Avista Healthcare Partners has acquired EBI, the bone healing division of Highridge Medical, marking Avista's 50th platform healthcare investment. The deal is a carve-out/divestiture from Highridge (a H.I.G. Capital portfolio company) intended to position EBI as a standalone leader in bone growth stimulation technologies.

HuFriedyGroup, an affiliate of Peak Rock Capital, has acquired SS White Dental, a manufacturer of carbide and diamond burs, endodontic instruments, and lab tools for the dental industry. The acquisition is an add-on to HuFriedyGroup's existing dental products portfolio and is intended to expand product capabilities, global manufacturing scale, and distribution reach for dental professionals worldwide.

CVC Capital Partners Fund IX agreed to acquire the Therakos extracorporeal photopheresis business from Mallinckrodt plc for $925 million in a carve-out transaction. CVC said it will invest in further research, indication expansion and geographic growth of Therakos while key Therakos employees will transition with the business; Mallinckrodt will use proceeds to substantially reduce net debt.

Tommie Copper, a Tengram Capital portfolio company, has acquired the footcare device division of Profoot (now Rooftop Consumer Health) in a carve-out transaction. The deal brings Profoot's footcare device portfolio into Tommie Copper's pain-management and wearable wellness lineup, expanding its product capabilities and retail reach.

Allentown, LLC, a portfolio company of Aterian Investment Partners, has acquired ClorDiSys Solutions, Inc., a Branchburg, New Jersey-based provider of chlorine dioxide-based sterilization equipment and contract sterilization services. The deal is an add-on acquisition to Allentown's platform that expands its decontamination, disinfection and medical device sterilization capabilities for life sciences, biomedical research and adjacent medical device markets.

Pharos Capital Group has acquired a majority stake in RhythMedix, a Mount Laurel, New Jersey-based maker of wearable cardiac monitoring devices and related services. RhythMedix's management is reinvesting and will remain in place; Pharos plans to support growth through increased R&D, market share expansion, and add-on acquisitions to broaden remote patient monitoring capabilities.

ARCH Medical Solutions Corp., a Jordan Company platform, has acquired gSource LLC, a precision manufacturer of surgical instruments based in Emerson, New Jersey. The deal adds specialized contract-manufacturing capabilities and capacity for orthopedic and spinal surgical instrumentation to ARCH’s national network of FDA-registered facilities as an add-on to its platform.

AEA Investors' Small Business Private Equity (AEA SBPE) has closed the acquisition of Rees Scientific, Inc., with rollover investment from the company's employees. Rees Scientific, headquartered in Trenton, New Jersey, provides automated environmental monitoring systems and a differentiated service network serving biopharma, biotech, hospitals, blood banks, academic and CRO customers.

Ampersand Capital Partners, a healthcare-focused private equity firm, made a growth equity investment in Sterling Medical Devices, a Moonachie, New Jersey-based provider of design, development and regulatory services for the medical device industry. The investment is intended to support Sterling’s continued growth and capability expansion across product development, software/electromechanical integration, and regulatory affairs.

Tightrope Capital Partners has formed a new partnership with the management team of VCI Emergency Vehicle Specialists, with subordinated debt and equity provided by NewSpring Mezzanine to support the transaction. VCI, which operates four locations across New Jersey, Pennsylvania and New York selling and servicing new and used ambulances and performing remounts/conversions, will pursue geographic expansion and potential add-on acquisitions under the new partnership.

Quidel Corporation completed its transaction with Ortho Clinical Diagnostics Holdings plc to create QuidelOrtho Corporation, a combined in vitro diagnostics company that will trade under the ticker QDEL. The new company is headquartered in San Diego, generated more than $3.5 billion in combined 2021 revenues, and has approximately 6,000 employees; former Ortho shareholders received $7.14 in cash plus 0.1055 shares of QuidelOrtho per Ortho share.

Aterian Investment Partners has acquired a majority interest in Allentown, LLC, a 50+-year provider of vivarium laboratory equipment and solutions based in Allentown, New Jersey. The transaction — Aterian’s first investment from its Fund IV — was completed from Heartwood Partners (Heartwood Partners Fund III, LP), with Aterian positioning Allentown as a platform for further organic growth and M&A in the life‑sciences equipment/manufacturing space.

Corza Medical, a GTCR portfolio company, has acquired Katena Products from Audax Private Equity. Katena is a Parsippany, New Jersey–based manufacturer of precision ophthalmic instruments, single-use devices and specialty biologics with more than 200 employees and sales in over 110 countries. Audax, which acquired Katena in 2015, supported the company's operational and M&A-driven growth during its ownership.

BioCheck, Inc. has acquired DRG International, Inc., a manufacturer of clinical diagnostic ELISAs and the DRG:HYBRiD-XL automated analyzer. The deal combines BioCheck's chemiluminescent assay development and automation platform with DRG's R&D, manufacturing and global distribution network to accelerate development and global scale-up of advanced clinical and research diagnostic tests.

DCN Dx, a Carlsbad, California-based developer of point-of-care diagnostics, has completed the acquisition of PortaScience, Inc., a dry-chemistry focused point-of-care diagnostics development company based in Moorestown, New Jersey. The deal adds PortaScience's PortaCheck animal-health product line and expands DCN Dx's assay development, engineering, and product portfolio for healthcare, veterinary, and consumer diagnostics.

Paragon 28, Inc. acquired the product lines and related assets of Additive Orthopaedics, including the FDA‑cleared 3D‑printed patient‑specific talus spacer and an integrated cloud‑based pre‑operative surgical planning application. The acquisition expands Paragon 28’s foot‑and‑ankle product offering and accelerates its strategy to integrate smart tools, AI and advanced technologies to improve patient outcomes.

Ott Scientific has acquired American Bionostica, Inc., a developer and manufacturer of specialty lateral flow assays; the acquisition was effective April 1 and ABI will operate inside Ott Scientific’s Ethos Biosciences subsidiary. The American Bionostica team will join Ott Scientific, with expanded research and production capacity planned at Ott Scientific’s new ISO13485/cGMP space in Logan Township, New Jersey.

Mettler-Toledo International Inc. completed the acquisition of PendoTECH, a Princeton, New Jersey–based maker of single-use sensors, transmitters, control systems and software for bioprocess measurement and monitoring. The transaction includes $185 million initial consideration plus up to $20 million in contingent payments and is intended to expand Mettler-Toledo's process-analytics and sensor offerings for the bioprocessing market and enable cross-selling and broader global reach.

SteriPack Group acquired Morristown, New Jersey-based HS Design Inc., an ISO 13485 certified product development and industrial design firm focused on medical devices. The acquisition expands SteriPack's U.S. operations and brings design, human factors, and front-end product development capabilities into its contract manufacturing and lifecycle services offering.

STERIS plc agreed to acquire Cantel Medical Corp. in a cash-and-stock transaction valuing Cantel at approximately $3.6 billion equity ($4.6 billion enterprise), paying $84.66 per Cantel share. The deal expands STERIS’s infection‑prevention and endoscopy capabilities and extends the company into dental customers, with expected pre‑tax cost synergies of ~$110 million by year four and accretion to adjusted EPS in year one.

Zimmer Biomet completed the acquisition of A&E Medical Corporation from private equity owner Vance Street Capital for $250 million. A&E Medical, headquartered in Farmingdale, New Jersey, is a designer and manufacturer of sternal closure systems, cardiac pacing wires and related disposable surgical products; the deal expands Zimmer Biomet's capabilities and product portfolio in cardiovascular and cardiothoracic surgical devices.

Los Angeles-based private equity firm Vance Street Capital acquired Wytech Industries, a Rahway, New Jersey manufacturer of specialty core wires and precision tube-based components for interventional medical devices. The Casalino family (founders) retain an ownership stake alongside Vance Street; terms were not disclosed. The deal represents Vance Street's first platform investment from Fund III and a strategic entry into a medical-device component manufacturing platform.

The Zabel Companies has acquired Medical Packaging Incorporated (MPI), a Flemington, New Jersey-based provider of unit dose medication and pharmaceutical packaging systems, equipment, labeling software and consumables. The transaction was completed in partnership with MPI President/CEO Andy Bartels and is intended to provide additional resources to accelerate the company's growth.

LeMaitre Vascular, Inc. acquired the business and assets of Artegraft, Inc. for $90.0 million (including $72.5 million at closing and up to $17.5 million in earnouts). The acquisition adds Artegraft's biologic vascular graft product line (used primarily for hemodialysis access) to LeMaitre's portfolio and will keep Artegraft's North Brunswick, New Jersey manufacturing facility and most employees in place.

Safeguard Medical, a Water Street Healthcare Partners–backed provider of first-responder medical products, has acquired Water-Jel Technologies, a Carlstadt, New Jersey–based leader in emergency burn care products. The deal expands Safeguard Medical's product portfolio, kitting and training capabilities and adds an FDA-registered, ISO-certified manufacturing facility; financial terms were not disclosed.

Capital Partners (through Capital Partners Private Equity Income Fund III, LP) completed a growth investment in Allentown, Inc. on October 22, 2019. John Coiro will remain CEO and Chairman as the investment is intended to support Allentown’s continued organic growth and acquisition-driven expansion of its lab animal housing and life‑science product offerings.

Linden Capital Partners, a Chicago-based healthcare private equity firm, has acquired Collagen Matrix, Inc., a New Jersey-based developer and manufacturer of collagen-based medical products used in tissue and bone repair across orthopedic, sports medicine, dental, and neurosurgery markets. The transaction (financing provided by Golub Capital and Northwestern Mutual) supports Linden's focus on medical products, contract/private-label manufacturing and expansion in dental and orthopedic end markets; Metalmark Capital was the prior owner.

EPTAM Precision Solutions, a portfolio company of New Heritage Capital, has acquired Micro Molding Inc. and MedConnection LLC, a Phillipsburg, New Jersey-based provider of precision plastic injection molding and catheter tipping solutions. The add-on broadens EPTAM's plastic injection molding capabilities to create a one-stop-shop for precision plastic and metal components serving medical device, aerospace & defense, and semiconductor customers.

Whitestone Corporation has acquired Humanicare International to create a leading provider of adult incontinence care products, combining Whitestone’s long-term care focus with Humanicare’s strength in the home healthcare market. The deal brings together several market-leading brands (including Dignity, Compose, Ultrashield and Disposeze) to expand distribution, product capabilities and presence across long-term and home healthcare channels; terms were not disclosed.