Acquisition to Broaden the Product Offering of Avalign Technologies, Inc.
LAKE FOREST, Ill., May 1 /PRNewswire/ -- RoundTable Healthcare Partners ("RoundTable"), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that its portfolio company, Avalign Technologies, Inc. ("Avalign"), a leading full-service supplier of instruments, implants, and delivery systems to the OEM medical device industry, has completed the acquisition of NGInstruments, Inc. ("NGInstruments"). NGInstruments is a family-owned manufacturer of high quality surgical cutting tools for the medical industry, specializing in drills, taps, and reamers. The financial terms of the transaction and RoundTable's investment were not disclosed.
"NGInstruments is a strategic and complementary acquisition for Avalign," said Joseph F. Damico, a Founding Partner of RoundTable and Chairman of the Board of Avalign. "NGInstruments adds an important product line through their market-leading expertise in precision grinding that bolsters Avalign's offering to our orthopaedics customers in the reconstruction, trauma, and spine markets. This further differentiates the company as a full-service supplier to medical device OEMs."
"We are excited about the combination of Avalign and NGInstruments," said Forrest Whittaker, Chief Executive Officer of Avalign. "This combination is positive for the customers and employees of both companies, as we continue to expand our product portfolio, manufacturing capabilities, and scale. We look forward to working together with NGInstruments' accomplished and talented management team to expand our service to our customers and to realize our growth objectives. We are also pleased to have the support of RoundTable to complete this acquisition and appreciate their continued commitment to invest in Avalign's growth and future."
Tony Nicholas, Co-Founder and President
|SOURCE Roundtable Healthcare Partners|
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