Medical Devices Acquisitions in Ohio

Drive Medical has acquired Compass Health Brands, a manufacturer of home medical equipment and consumer health brands that include Carex, ProBasics, TheraMed, Roscoe Medical and Meridian Medical. Terms were not disclosed; Compass Health will operate as a division of Drive Medical and the acquisition is intended to broaden Drive Medical's product portfolio and expand its reach across retail and e-commerce channels.

CQ Medical has acquired the Radiation Therapy business unit from Bionix, expanding CQ Medical’s patient positioning and radiotherapy marking product portfolio. The deal transfers Bionix’s radiation therapy product lines and commercial team to CQ Medical while Bionix retains its Ambulatory Care business based in Maumee, Ohio.

SAM Medical has acquired TyTek Medical (part of the TyTek Group) to expand its proprietary emergency medical product offering. TyTek operations will be relocated to Tualatin, Oregon, and SAM will leverage its global reach to broaden customer support for TyTek’s chest decompression needles.

MIGA Holdings LLC has acquired Invacare Holdings Corporation’s North American business, transferring Invacare’s U.S. mobility and home-healthcare product operations to MIGA. The divestiture lets Invacare concentrate on its other regional operations while giving MIGA a platform to expand manufacturing, sales and distribution in the North American medical mobility market.

Advancing Eyecare (AEC), a Jacksonville-based eyecare instrumentation platform backed by Cornell Capital, has acquired Eyefficient, a Twinsburg, Ohio supplier of ophthalmic instruments. Financial terms were not disclosed; AEC said the deal will expand its product offering and installation/repair services to third-party distributors and independent sales representatives.

Theken Companies, a family of medical device companies based in Akron, Ohio, has acquired VisionAir Solutions from Cleveland Clinic. The acquisition brings VisionAir's proprietary cloud-based design software and 3D-printed patient-specific silicone airway stents into Theken's medical device portfolio to expand capabilities and commercialize the technology more broadly.

A consortium led by SD Biosensor and private equity firm SJL Partners agreed to acquire Meridian Bioscience in an all-cash transaction valued at approximately $1.53 billion ( $34.00 per share). The deal will take Meridian private and is intended to accelerate SD Biosensor's entry into the U.S. in-vitro diagnostics market while leveraging Meridian's U.S. distribution network and product portfolio.

Valencia Capital, LLC has acquired ACOR Orthopaedic, Inc., a Cleveland-based manufacturer of custom and retail orthopedic products and foam-conversion services. The private equity firm said the acquisition will provide ACOR with leadership and growth opportunities to expand its product and market reach.

MARLE GROUP has acquired a majority stake in Tangible Solutions, a Fairborn, Ohio-based contract manufacturer of 3D-printed titanium orthopedic, spine, and trauma implants. The deal establishes MARLE GROUP's first industrial base in the United States and expands its additive manufacturing and product development capabilities; Tangible Solutions' founders remain as CEO and COO.

Blue Sea Capital has completed an acquisition of WillowWood Global LLC, a long-established designer and manufacturer of prosthetic products, from DW Healthcare Partners. The investment positions WillowWood for accelerated growth — with management retaining meaningful ownership — and signals Blue Sea's intent to support organic growth and pursue acquisition-driven expansion in the prosthetics market.

TTG Imaging Solutions, LLC acquired Medical Imaging Technologies (MIT), a provider of nuclear medicine systems, equipment sales, parts and service headquartered in Akron, Ohio. The deal expands TTG’s national footprint of field service engineers and broadens its diagnostic imaging and radiopharmaceutical offerings to MIT’s legacy customers.

SFW Capital Partners completed a strategic recapitalization of Caron Products and Services, partnering with Caron CEO Steve Keiser and VP Dave Figel who remain significant shareholders. The recapitalization will fund expansion of Caron’s product portfolio, enhancement of sales, marketing and service capabilities, and support inorganic growth through acquisitions.

Avalign Technologies, a Linden Capital Partners–backed orthopedics manufacturer based in Bannockburn, Illinois, has completed the acquisition of the assets of Slice Manufacturing Studios, a contract manufacturer of medical devices based in Akron, Ohio. The deal brings Slice's metal additive manufacturing, high-tolerance subtractive machining, and sterile packaging capabilities into Avalign's platform to expand its additive and advanced manufacturing offerings for hip, spine and knee implant markets.

Argosy Private Equity made a growth investment in Bionix, LLC, a Toledo-area (Maumee), Ohio manufacturer of disposable ear, nasal and wound care medical devices. The transaction — the first investment from Argosy's sixth lower middle market fund — will fund new product introductions, deeper sales-channel penetration and potential add-on acquisitions.

ASP Global, a privately held Atlanta-based medical sourcing and distribution company, has acquired Shumsky Therapeutic Pillows, the Dayton, Ohio–based maker and distributor of therapeutic pillows used by hospitals nationwide. Shumsky will continue operations in Dayton with manufacturing in Richmond, Indiana; the acquisition is an add-on to ASP's portfolio (which has been associated with Incline Equity Partners) to expand its patient-preference product offering and hospital relationships.

Alpha / AXS Holding Company, LLC — a vehicle formed by Alpha Imaging's founders (the Perrico family) — acquired Alpha Imaging, LLC from Caymus Equity Partners. The transaction closed on June 30, 2020, returning the company to founder control; Alpha Imaging is a Willoughby, Ohio-based provider of medical imaging equipment sales and service that expanded recurring-service contracts and product offerings during Caymus Equity's ownership.

The Riverside Company’s value-based private equity arm led a recapitalization of LMG Holdings, Inc., a provider of ignition interlock devices and portable alcohol monitoring solutions. The transaction partners Riverside with LMG’s existing ownership to support growth, product and technology development, and expansion of LMG’s nationwide service network.

Avalign Technologies, a Bannockburn, Illinois-based precision medical device manufacturer, has acquired Integrated Medical Solutions (IMS), a contract manufacturer of machined metal implants based in Mentor, Ohio. The acquisition expands Avalign's manufacturing capabilities and product offerings in spine, sports medicine, trauma, and extremities implants as an add-on to its platform (PE-backed by Linden Capital Partners).

Gridiron Capital has made a majority investment in Remington Products Company, a Wadsworth, Ohio-based designer and manufacturer of orthotic insoles, braces and footcare products. The deal will partner Gridiron with Remington's management and employees—who will remain significant owners—to scale the business and build a broader orthopedic wellness platform.