$250 million of committed equity capital immediately available to support growth strategy
PLEASANT PRAIRIE, Wis., March 10 /PRNewswire/ -- Tom Daulton, the former Cardinal Health executive recently tapped to head Devicor Medical Products, LLC, announced today that Devicor is actively seeking its first acquisition as it begins building a market-leading medical device company in the highly attractive healthcare industry.
"With our strong, available capital we are actively pursuing a strategic acquisition to serve as Devicor's platform," says Daulton.
Devicor was created in partnership with GTCR Golder Rauner, LLC (GTCR), one of the nation's leading private equity firms, which initially committed $250 million of equity capital to support Devicor's growth strategy. Daulton anticipates growing Devicor into an industry-leading medical device company through a combination of capital investment, ongoing R&D investment, organic growth, and acquisitions.
Devicor is currently looking to acquire established interventional medical device businesses that manufacture and sell products to clinicians in settings such as hospitals, surgery centers, or ambulatory clinics. Initial acquisitions are expected to provide infrastructure and personnel in key areas such as manufacturing, R&D, engineering, sales & marketing, finance, and human resources.
Daulton's career spans two decades in senior health care management roles at Baxter Healthcare, Allegiance Healthcare and Cardinal Health in both domestic and international positions. Most recently, Daulton served as General Manager of Cardinal's Interventional Specialties and Med Systems divisions, both fast-growing businesses, where he dramatically expanded revenue through a combination of organic growth, licensing and acquisitions.
"First and foremost, Devicor is a medical device company," says Daulton. "The financial side of our business is critically important, and we're enthusiastic about the number of compelling investment opportunities we see in the market. But, at the end of the day, we're looking to advance the medical device industry and improve patient outcomes by building on something that works."
About Devicor Medical Products, LLC
Devicor Medical Products, headquartered in Pleasant Prairie, Wisconsin, is a global medical device company focused on acquiring and developing clinical preference medical devices and companies. For more information, please visit www.devicormedical.com or call (262) 857-9300.
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $8 billion of equity capital invested in a wide range of companies and industries. More information about GTCR can be found at www.gtcr.com.
|SOURCE Devicor Medical Products|
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