Medical Devices Acquisitions in Utah

Averra Holdings, a portfolio company of Banner Capital, has announced a partnership to bring ZIEN Medical Technologies into the Averra family. ZIEN, a Salt Lake City–based medical device contract design & manufacturing organization, will integrate with Averra to expand turnkey packaging design, manufacturing, sterilization and regulatory capabilities; terms were undisclosed.

Numantec has acquired Health Line International Corp., a Salt Lake City-based manufacturer of vascular access catheters, infusion therapy products, and infection control devices. The deal strengthens Numantec's global medical device platform, accelerates its expansion into the US market, and retains the Faulkner family as partial reinvestors while maintaining Health Line's core management team.

Zimmer Biomet signed a definitive agreement to acquire OrthoGrid Systems, a privately held developer of AI-driven, fluoroscopy-based intraoperative surgical guidance systems for total hip replacement. The deal expands Zimmer Biomet’s hip portfolio with OrthoGrid’s Hip AI platform, two additional FDA-cleared orthopedic applications and an IP portfolio of over 40 patents; the transaction is expected to close by Q4 2024 pending customary conditions.

Catalyze Partners completed the acquisition of Axcend, LLC on July 15, 2024, acquiring the developer of compact, portable HPLC systems to serve as the cornerstone of a new analytical instrumentation platform. The deal positions Catalyze to commercialize Axcend's eco-friendly, portable HPLC products (including the Focus LC) across pharmaceuticals, environmental monitoring, chemical manufacturing and other end markets.

MicroCare, a Heartwood Partners-backed company, acquired Infection Control Technology, LLC (ICT), a Clearfield, Utah-based manufacturer of infection control chemistries focused on the dental market. The add-on strengthens MicroCare's medical infection prevention portfolio, adds private-label and concentrate capabilities, and retains ICT management including founder Nathan Johnson.

ONCAP (Onex) has made a significant investment in Biomerics and is merging the medical business of Precision Concepts (Precision Concepts Medical) into Biomerics. The transaction, completed with participation from Biomerics' founder Travis Sessions, current shareholder Wasatch Equity Partners and the Marino family, creates a larger vertically integrated medical device contract manufacturer with expanded capabilities and scale to pursue further strategic M&A.

Nitto Denko Corporation has acquired Bend Labs, Inc., a Farmington, Utah-based developer of flexible sensor technologies. Bend will merge into the Nitto Group as Nitto Bend Technologies to combine Bend's sensor devices with Nitto's adhesive and flexible printed circuit capabilities to develop next-generation products and sensor-data services for automotive, healthcare, sports and robotics markets.

Arcline Investment Management acquired a controlling stake in Integrated Medical Holdings (IMH) from founder Bob Winters. IMH provides catheter tipping and hole-punching equipment as well as vertically integrated catheter contract manufacturing services and will join Arcline’s medical-oriented manufacturing equipment platform alongside Glebar, SYNEO and Everite Machine Products.

Centurion Service Group has acquired Monet Medical, a Salt Lake City-based refurbisher of hospital beds, stretchers, infusion pumps and other medical equipment. The deal expands Centurion's reconditioning, distribution and infrastructure capabilities, augmenting its direct sales and auction channels to provide a more comprehensive medical equipment lifecycle solution.

LABORIE Medical Technologies, a Patricia Industries portfolio company, has completed the acquisition of Clinical Innovations from funds managed by EQT for an enterprise value of $525 million. Clinical Innovations, headquartered in Salt Lake City, Utah, is a leading provider of single-use medical devices for labor & delivery and neonatal intensive care and will form a stand-alone Maternal and Child Health global business unit within LABORIE.

HealthpointCapital’s Fund IV portfolio company, CrossRoads Extremity Systems, completed an add-on acquisition of multiple FDA-cleared implant and soft-tissue repair technology assets from Surgical Frontiers LLC, including the KATOR, OsteoPrecise, SpeedButton and Metrics product families. The purchase, which includes issued and pending U.S. patents, strengthens CrossRoads’ extremities product portfolio and supports cross-selling and capability expansion as part of HealthpointCapital’s strategy to build a market-leading orthopedic extremities platform.

DePuy Synthes Companies has acquired Olive Medical Corporation, a Utah-based maker of high-definition visualization systems for minimally invasive surgery. The acquisition (financial terms undisclosed) adds arthroscopic visualization technology to DePuy Synthes' Mitek Sports Medicine portfolio and expands access to Olive Medical's solutions through DePuy Synthes' global distribution network.