Navigation Links
RoundTable Healthcare Partners Completes Portfolio Company Add-On Acquisition
Date:5/1/2009

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 of NGInstruments, added, "Avalign and RoundTable are ideal partners for NGInstruments. The combination of the businesses will create a stronger organization with deep, broad-based customer relationships, providing best-in-class service. The partnership with Avalign and RoundTable will also help us grow by providing access to new customers and markets, and the resources to support our growth initiatives."

As part of the transaction, RoundTable successfully facilitated an amendment to Avalign's senior credit facilities, as well as a private placement of subordinated notes. The senior credit facilities were led by The PrivateBank and Trust Company with GE Capital, Healthcare Financial Services participating in the credit. Avalign's subordinated notes were purchased by RoundTable Capital Partners, RoundTable's $200 million captive subordinated debt fund. RoundTable and certain shareholders of Avalign and NGInstruments made an equity investment in Avalign as part of the transaction.

About RoundTable Healthcare Partners

RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs, and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.1 billion in capital, including two equity funds totaling $900 million and a subordinated debt fund of $200 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.

About Avalign Technologies, Inc.

Avalign Technologies, Inc. is a leading provider of outsourced services to medical device OEMs. Avalign provides its customers with a full-service offering including instruments, implants, and delivery systems. Avalign currently operates through four divisions, Instrumed International, Inc., Nemcomed, Inc., Advantis Medical, Inc., and NGInstruments, Inc. Instrumed is a premium-quality surgical instrument manufacturing and single-source sourcing expert. Nemcomed provides Avalign with precision machining capabilities and the ability to design and manufacture medical instruments and implants. Advantis is a leading orthopaedic case/tray system manufacturer providing Avalign's customers best-in-class delivery system capabilities. NGInstruments manufactures high quality surgical cutting tools, specializing in drills, taps, and reamers. More information about Avalign can be found at www.avaligntech.com.


'/>"/>
SOURCE Roundtable Healthcare Partners
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Stevens Health, Technology and Society roundtable: Sept. 19
2. NFIB Joins AARP, Business Roundtable and SEIU in Divided We Fail
3. Lucian Leape Institute Announces First Roundtable
4. OIG and HCCA Issue Government-Industry Roundtable Report
5. Lucian Leape Institute First Roundtable: A Resounding Success
6. Remarks By President Bush and President Kikwete of Tanzania at Roundtable on Pepfar
7. BD to Present at the Leerink Swann Molecular Diagnostics Roundtable Conference
8. Genomic Health to Participate in Leerink Swann Roundtable Conference
9. Privacy Experts Roundtable Report Will Highlight Privacy & Security Week
10. Vermillion to Host Live Roundtable Discussion With Lead Investigator of its Peripheral Artery Disease Diagnostic Test Program
11. Caliper Life Sciences to Present at Leerink Swanns 3rd Annual Life Science Tools Roundtable Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2017)... ... , ... According to the American Cancer Society , the average 15-year ... Once the cancer spreads to other organs, bones, or lymph nodes, however, the 5-year ... this latter group, tune in to Lifestyle Magazine on April 9, 2017, ...
(Date:3/27/2017)... ... March 27, 2017 , ... Sodium determination is consistently becoming ... require expert user knowledge. In a live webinar on April 11th and October ... highly accurate, determination of sodium. , It has long been known that too ...
(Date:3/27/2017)... (PRWEB) , ... March 27, 2017 , ... ... entered a settlement agreement to resolve the pending litigation between itself and 1800 ... the District of Utah). , “I am thrilled to announce that we have ...
(Date:3/27/2017)... (PRWEB) , ... March 27, 2017 , ... ... deaths soared 167%,(1) with opioids alone responsible for over 33,000 of the 52,404 ... has sponsored Assembly Bill (AB) 1512, which proposes a tax on prescription opioids ...
(Date:3/27/2017)... HOUSTON, Texas (PRWEB) , ... March 27, 2017 , ... ... and hard of hearing, is bringing its latest products to the Deaf Seniors of ... attendees will have the opportunity to meet with knowledgeable ASL friendly staff from Harris ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... A ReportsnReports.com report says, over the recent years, global antibody ... of Adcetris and Kadcyla have been witnessing rapid growth after their ... driven by large number of ADC drugs in pipeline, rise in ... ... and 94 Figures, 10 Major Company Profiles, spread across 154 pages ...
(Date:3/24/2017)... 24, 2017 Research and Markets has announced ... Business Report" report to their offering. ... The report provides separate comprehensive analytics for the US, ... Europe , Asia-Pacific , Latin America ... for the period 2015 through 2022. Also, a six-year historic analysis is ...
(Date:3/24/2017)... DALLAS , March 23, 2017  HealthMine surveys ... January 2017 revealed that health plan members want help ... reason to stay engaged in their health, 2) help ... an integrated platform for health and 5) relevant, real-time ... outcomes and lowering healthcare costs. ...
Breaking Medicine Technology: