Medical Devices Acquisitions in New York

Aspen Surgical Products has acquired Ruhof Healthcare, a Mineola, New York–based maker of enzymatic detergents, cleaning verification systems, and instrument/endoscope reprocessing solutions. The acquisition (terms not disclosed) brings Ruhof's products and ~ $50M in revenue into Aspen's SPD360 Performance Solutions platform to expand its infection‑prevention, reprocessing, and endoscopy portfolios and accelerate international growth.

Artemis Capital Partners, a Boston-based private equity firm, has acquired Millrock Technology Inc., a Kingston, New York manufacturer of lyophilization (freeze-drying) instrumentation and process development tools for the pharmaceutical, biotech, and diagnostics markets. Under Artemis’ ownership Millrock will continue to operate independently from its Kingston facility while Artemis invests to scale the company’s technical capabilities and global reach.

SCOPE Health Inc. has acquired two eye-care technologies — the OPTASE MX2 meibographer (originally from Box Medical Solutions) and OPTASE Connect powered by Medbot technology — to expand its OPTASE product portfolio. The additions will provide cloud-based meibography imaging and digital patient engagement tools to eye care practices across the United States, United Kingdom, and Ireland, strengthening SCOPE’s diagnostic and patient‑connect capabilities.

Riveria Investment Group, a New York–based private equity firm, has invested in On The Right Track Systems (OTRT), a Tribeca-headquartered provider of Hookless hospital privacy curtains, track systems and cloud-based changeout/compliance software. The investment is positioned to support OTRT’s growth and further development of its proprietary hardware and software solutions for healthcare facilities.

StatLab Medical Products has acquired Poly Scientific R&D, a Bay Shore, New York-based manufacturer of pathology stains, reagents and tissue controls. The deal adds tissue control slide manufacturing and other anatomic pathology consumables to StatLab’s portfolio, expanding its manufacturing capabilities and market presence.

Marketlab, a family-owned manufacturer of specialty healthcare products based in Caledonia, Michigan, has acquired the assets of Medi‑Tech International Corporation, a Brooklyn, New York‑based manufacturer of wound care, labor‑and‑delivery, and patient safety products. The acquisition expands Marketlab’s medical‑surgical and laboratory product portfolio and brings additional products, distribution partnerships, and GPO contracts into its offering to better serve IDNs and other healthcare customers.

STRATEC SE has agreed to acquire Natech Plastics, Inc., a Ronkonkoma, New York-based manufacturer of polymer-based consumables, for USD 30.0 million plus an earn-out. The acquisition gives STRATEC a U.S. production site and expanded consumables capabilities for medical technology and in‑vitro diagnostics, with first-time consolidation expected in July 2023.

Far UV Technologies, a Kansas City–based provider of far-UVC whole-room disinfection solutions, has acquired AeroMed Technologies, LLC of Utica, New York, a long-standing maker of upper-room germicidal UV fixtures and HEPA filtration healthcare solutions. The deal combines Far UV's far-UVC innovations and IP with AeroMed's commissioning, HEPA products and customer footprint to expand product capabilities and market reach in healthcare, government and commercial end markets.

Nordic Capital has made a significant minority investment in Equashield to support the company's next phase of growth and global expansion. The partnership will help Equashield commercialize its automated compounding systems and scale its closed system transfer device (CSTD) business across healthcare markets.

Dunes Point Capital, LP has acquired EG Medical, a Rochester, New York-based manufacturer of complex, high-precision parts for the medical device industry. The business is a divisional carve-out from Ernie Green Industries, Inc.; Dunes Point Capital Fund III, LP provided the controlling equity and M&T Bank provided the debt financing.

RoundTable Healthcare Partners completed a majority investment in Polymedco, a marketer and distributor of diagnostic tests for colorectal cancer screening and cardiac conditions. The founders, Drew Cervasio and Pete Welsh, remain involved alongside RoundTable; financing included senior debt from multiple banks and subordinated notes from RoundTable's captive debt fund.

CELLTREAT Scientific Products has agreed to acquire VistaLab Technologies to create a single, enhanced source for laboratory products and expand distribution and product development capabilities. The transaction was funded in part by a mezzanine investment from Massachusetts Capital Resource Company (MCRC) to support CELLTREAT's acquisition of VistaLab.

Capsa Healthcare, a portfolio company of Levine Leichtman Capital Partners, has acquired the Humanscale Healthcare division of Humanscale Corporation. The acquisition expands Capsa's point-of-care product portfolio and ergonomic workstation capabilities, strengthening its position in hospitals, long-term care and pharmacy markets; terms were not disclosed.

TEAM Technologies, a Clearlake Capital-backed specialty manufacturer, has acquired iiMED Medical Solutions from ACON Investments. iiMED is a nearshore manufacturer of FDA Class I & II consumable medical devices based in Amherst, New York with manufacturing in Reynosa, Mexico; the deal expands TEAM's medical device manufacturing capabilities and nearshore footprint. Financial terms were not disclosed.

Advancing Eyecare, a portfolio company of Atlantic Street Capital, has acquired Santinelli International, a long‑standing provider of optical finishing and lens edging equipment. The acquisition expands Advancing Eyecare's product portfolio and service capabilities in the ophthalmic equipment market and integrates Santinelli's edgers, blockers, tracers, consumables and accessories into the platform.

Bioventus Inc. entered into a definitive agreement to acquire Misonix, Inc. in a cash-and-stock transaction that values Misonix at approximately $518 million on a fully diluted basis. The deal expands Bioventus' regenerative medicine and surgical solutions portfolio by adding Misonix's minimally invasive ultrasonic technologies and regenerative wound products and is expected to close in the fourth quarter of 2021 subject to customary approvals.

Toronto-based private equity firm CPS Capital made a strategic growth investment in PharmaSmart International alongside the company’s existing management team. The financing (which included term debt from FirePower Capital and Nicola Wealth) will fund roll‑out of PharmaSmart’s PS-2000D health kiosk platform and accelerate expansion across Canada and the United States.

Thorne HealthTech acquired a majority of outstanding shares of Drawbridge Health, the developer of the OneDraw blood collection device and A1C Test System. Drawbridge Health will remain a majority‑owned and controlled subsidiary, with its former CEO Lee McCraken staying on as chairman while new co‑CEOs lead growth and integration efforts.

Schivo, an Ireland-based OEM contract manufacturer (PE-backed), has acquired Supreme Screw Products, Inc., a Plainview, New York-based precision machining and assembly supplier to the medical device market. The acquisition adds two U.S. manufacturing facilities and capabilities in micro-machining, laser processing, and assembly, strengthening Schivo's footprint and technical capabilities in minimally invasive surgery and life sciences.

Graham Partners’ portfolio company Medbio, an outsourced medical device manufacturer based in Grand Rapids, Michigan, has acquired Polymer Conversions, Inc., a Western New York contract molder. The add‑on expands Medbio’s geographic footprint and injection‑molding and assembly capabilities, creating cross‑selling opportunities and expected operational synergies for the combined medical‑device manufacturing platform.

Mirion Technologies, a San Ramon-based, PE-backed provider of radiation detection and measurement solutions, acquired Biodex Medical Systems, Inc. effective September 1, 2020. Biodex, a manufacturer of nuclear medicine instruments, medical imaging equipment and rehabilitation systems headquartered in Shirley, New York, will expand Mirion's medical device and imaging capabilities as part of Mirion's strategic plan to grow its medical business.

Solmetex, a dental waste management and environmental solutions provider, has acquired Crosstex International — the dental division of Cantel Medical Corporation. The deal, announced by Riveria Investment Group, gives Solmetex access to Crosstex's infection prevention and compliance product portfolio and manufacturing footprint in Hauppauge, New York.

Avidity Science, a ShoreView portfolio company, acquired the Cascada Laboratory Water Purification product line from Pall Corporation (a Danaher company). The deal expands Avidity's water purification portfolio and establishes manufacturing and distribution operations in Jiaxing, China to better serve customers in Asia.