Medical Devices Acquisitions in Tennessee

Zavation Medical Products, a Gemspring Capital portfolio company, has acquired ChoiceSpine Holdings, a Knoxville-based designer and manufacturer of spinal implant systems; terms were not disclosed. The deal expands Zavation's spinal implant portfolio and commercial reach across inpatient and outpatient settings, and Derek Kuyper was named CEO of the combined organization.

DirectMed Imaging, a portfolio company of Frazier Healthcare Partners, has acquired Tri-Imaging Solutions and will combine the two businesses under the Tri-Imaging name. The transaction creates a scaled imaging solutions platform that expands parts inventory, service capabilities, and technical training for healthcare networks, independent service organizations, and equipment manufacturers.

Medical Manufacturing Technologies (MMT), a portfolio company of Arcline Investment Management, has acquired GenX Medical, a U.S.-based supplier of micro-bore tubing, bioresorbable extrusions and custom medical extrusions. The add-on strengthens MMT's extrusion and specialty manufacturing capabilities, integrates GenX's team into MMT's technical leadership, and expands MMT's end-to-end medical device manufacturing offering.

Arlington Capital Partners has acquired TEAM Technologies, a Morristown, Tennessee–headquartered medical device manufacturer and strategic supply‑chain solutions provider, from Clearlake Capital Group for an undisclosed sum. Arlington plans to build on TEAM Tech’s vertically integrated manufacturing footprint and accelerate growth through organic investment and strategic add‑on M&A to strengthen healthcare supply chains and customer capabilities.

Hanger, Inc. completed its acquisition of Fillauer, a global orthotic and prosthetic (O&P) manufacturing and innovation leader, adding Fillauer’s U.S. fabrication and European operations to Hanger’s Products & Services segment. The deal brings Fillauer’s manufacturing, R&D and product lines into Hanger’s broader O&P ecosystem to expand capabilities and support outcomes-based clinical research and patient care.

Ergotron, a global provider of ergonomic workflow solutions, has acquired Enovate Medical, a manufacturer of nurse-ready workstations and related services. The purchase expands Ergotron’s healthcare capabilities by adding Enovate’s hardware, mobile power systems and cloud-based workstation management software to its product and service portfolio; terms were not disclosed.

ASP Global has acquired Nashville-based MediCore Medical Supply, a manufacturer and distributor of blood collection products marketed under the ReadyLance brand. The acquisition adds ReadyLance safety lancets and heel devices to ASP Global's lab and diagnostic portfolio and brings MediCore founder Josh Pittman into ASP Global as VP of Business Development.

Stockholm-based Safe Life has acquired U.S. distributor Coro Medical (including AED.us), expanding its portfolio of AED sales, service and training businesses into the United States. The transaction strengthens Safe Life’s international reach and supports its goal of becoming a leading AED provider across Europe and North America.

Aspen Surgical Products, a portfolio company of Audax Private Equity, has acquired Symmetry Surgical from RoundTable Healthcare Partners. The add-on acquisition (terms not disclosed) expands Aspen's portfolio with Symmetry's surgical instrument, electrosurgery and minimally invasive device brands and adds direct-sales capabilities across acute and non-acute care settings.

Geistlich Pharma North America, Inc. has acquired Lynch Biologics, LLC, the developer and sole provider of GEM 21S, to strengthen Geistlich's regenerative dentistry product portfolio and expand capabilities in oral regenerative surgery. Dr. Sam Lynch will continue to support customers and training efforts following the integration; pH Partners served as exclusive financial advisor to Lynch Biologics.

CONMED Corporation has completed its acquisition of privately-held In2Bones Global, Inc., a Memphis-based developer, manufacturer and distributor of medical devices for upper- and lower-extremity (hand, wrist, elbow, foot and ankle) care. The transaction was financed with proceeds from CONMED's convertible notes, borrowings under its amended credit facility and cash on hand.

DePuy Synthes, the orthopaedics business of Johnson & Johnson, has acquired CrossRoads Extremity Systems, a Memphis-based designer and manufacturer of procedure-specific implants and instruments for foot and ankle surgery. The seller was HealthpointCapital (with long-time investor MB Venture Partners involved); HealthpointCapital had acquired a majority stake in CrossRoads in May 2019 and executed product and commercial expansion before the sale.

Convatec Group Plc has signed a definitive agreement to acquire Triad Life Sciences Inc, a Memphis-based developer and manufacturer of porcine placenta‑derived extracellular matrix products for advanced wound care. The deal, expected to close in Q1 2022 subject to regulatory approvals, values Triad at an initial $125 million with up to $275 million additional contingent/earnout payments tied to milestones and performance.

IZI Medical Products, LLC, a Shore Capital Partners-backed interventional radiology device platform, acquired RadioMed Corporation and its VISICOIL fiducial marker product family from IBA S.A. The purchase is an add-on to IZI’s portfolio—its fourth add-on in 24 months—and is intended to expand IZI’s imaging marker and interventional oncology offerings through RadioMed’s distribution channels and IZI’s direct sales force.

HealthpointCapital has acquired a controlling (majority) stake in CrossRoads Extremity Systems, a Memphis-based developer and manufacturer of foot & ankle implants, procedure-specific sterile-packed instrumentation, and the EcoSMART instrument recovery service. HealthpointCapital will partner with CrossRoads' co-founders and management, providing additional equity to fund organic growth, expand the company's portfolio and market presence, and pursue bolt-on acquisitions.

LimaCorporate, an EQT portfolio company and global orthopaedics leader, acquired TechMah Medical LLC to expand its digital orthopaedics capabilities. The acquisition (announced as milestone-based) brings TechMah’s bio-wireless electronics, biomechanics and reconstructive software into Lima’s offering to accelerate in-hospital additive manufacturing and digital care solutions in orthopaedics.

Harvey & Company, a private investment firm, has initiated a new platform investment in Engineered Medical Systems (EMS), a Memphis-area contract manufacturer of machined metal instruments and implants for spinal and orthopedic surgery. The investment will support EMS's organic growth, operational improvements and enable the pursuit of complementary add-on acquisitions.