Navigation Links
RoundTable Healthcare Partners Announces Sale of Ascent Healthcare Solutions to Stryker Corporation
Date:12/1/2009

LAKE FOREST, Ill., Dec. 1 /PRNewswire/ -- RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the health-care industry, announced today that it has entered into a definitive agreement to sell one of its portfolio companies, Ascent Healthcare Solutions ("Ascent") to Stryker Corporation ("Stryker"), one of the world's leading medical technology companies, for $525 million in cash. Prior to closing, Ascent will distribute $35 million of cash from its balance sheet to its shareholders, taking the total proceeds from the sale to approximately $560 million. The closing is conditional on regulatory approval and other customary closing conditions.

Ascent is the leading independent third-party reprocessor of single-use medical devices in the healthcare industry. It was created through a merger of Vanguard Medical Concepts, Inc. ("Vanguard") and Alliance Medical Corporation in December 2005. RoundTable acquired a majority interest in Vanguard in September 2001.

"RoundTable's initial investment in Vanguard was driven by our belief that the reprocessing of medical devices would produce significant cost savings for hospitals and divert thousands of pounds of medical waste from landfills," said Joseph F. Damico, a Founding Partner of RoundTable and the Chairman of the Board of Ascent. "John Grotting and the management team have taken this concept and become the market leaders, growing revenue and profitability by expanding their product offerings and increasing their customer base to over 1800 hospitals and numerous Group Purchasing Organizations throughout North America."

"RoundTable has been an exceptional partner," said John Grotting, CEO of Ascent. "Their industry relationships and operating expertise have helped us to strategically position our business and accelerate our sales and profitability. Their transaction expertise was instrumental in consummating our new partnership with Stryker. This new relationship will be good for both our customers and our employees."

"The sale of Ascent is an example of RoundTable's strategy to use our unique operational orientation and transaction expertise and partner with owner/founders to create value for their businesses," said Lester B. Knight, Managing Partner of RoundTable. "This transaction was exceptional for all our stakeholders. For our investors, it represents a return of over eight times invested capital."

About RoundTable Healthcare Partners

RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care 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.

SOURCE RoundTable Healthcare Partners


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

Related medicine technology :

1. Deloitte and Nonprofit Roundtable Host Real-World Disaster Exercise as Next Step in Developing Preparedness Plan for Greater Washington Region
2. Justice Department Will Not Oppose CEO Roundtable on Cancers Proposal
3. Roundtable Calls Presidents Embryonic Stem Cell Decision: Bankrupt
4. BARC Central Laboratory Joins Alzheimers Association Research Roundtable
5. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
6. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
7. ViroPharma to Present at Three Upcoming Healthcare Conferences
8. AIDS Healthcare Foundation Names Homayoon Khanlou, M.D. as its Chief of Medicine, U.S.
9. CEL-SCI CEO to Present Tomorrow at the Biotech / Pharma / Healthcare On-Line Forum
10. Tablet PC Technology Helps Doctors and Patients Focus on Chemotherapy Side Effects, According to Thomson Healthcare Study
11. Novavax CEO to Present at ACUMENBioFins 9th Annual Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... 2016 Jazz Pharmaceuticals plc (Nasdaq: ... Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR"), ... Inc. ("Celator"; Nasdaq: CPXX ) expired effective ... As previously announced on May 31, 2016, ... agreement under which Jazz Pharmaceuticals has commenced a tender ...
(Date:6/24/2016)... June 24, 2016  Consumers have taken a ... have placed more emphasis on patient outcomes. ... programs in the pharmaceutical industry have evolved beyond ... pharmaceutical companies are focusing on becoming more patient-oriented ... products and services that improve health. ...
(Date:6/24/2016)... , June 24, 2016   Bay Area ... Network,s Dean Center for Tick Borne Illness ... and Rehabilitation, MIT Hacking Medicine, University of California, ... today announced the five finalists of Lyme ... disease.  More than 100 scientists, clinicians, researchers, entrepreneurs, ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe ... from the David Geffen School of Medicine at UCLA. He trained in Internal Medicine ... his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... A ... procedures that most people are unfamiliar with. The article goes on to state that ... but also many of these less common operations such as calf and cheek reduction. ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Scientific Sessions in Dallas that it will receive two significant new grants to ... came as PHA marked its 25th anniversary by recognizing patients, medical professionals and ...
(Date:6/24/2016)... ... ... makers of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum ... by 2020 and then adjusting it yearly to increase at the same rate as the ... wage floor does not erode again, and make future increases more predictable. , The company ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® & Innovative Solutions today ... cultivation and processing operations at its production facility, and opened its first two ... the manufacturer of a complete system of proactive air and surface purification solutions ...
Breaking Medicine News(10 mins):