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:1/23/2017)... The global  anxiety disorders and depression treatment market  is ... incidence of depression worldwide is anticipated to drive the market growth in the ... demand for antidepressants in the recent years. Continue ... ... ...
(Date:1/23/2017)... Spain , January 23, 2017 ... clinical-stage biopharmaceutical company focused on treatments for calcification ... been enrolled in the Phase IIb "CaLIPSO Study" ... treatment of cardiovascular calcification (CVC) in end-stage-renal-disease (ESRD) ... patients, in the last stage of chronic kidney ...
(Date:1/23/2017)... Just two weeks remain until legal experts and senior industry leaders involved ... London to discuss the flow of pharmaceutical products post Brexit ... Trade 2017 . In the run up to the show, ... to read in the event download centre . ... Some of those confirmed include: ...
Breaking Medicine Technology:
(Date:1/24/2017)... Scottsdale, Ariz. (PRWEB) , ... January 23, 2017 ... ... , recently analyzed statistics from 140 Buzzies users who entered metrics into the ... Serin's earlier clinical data. The new data showed that within just 30 seconds ...
(Date:1/24/2017)... ... ... The National Council of Alcoholism and Drug Dependence ( NCADD ), in ... designate the last full week of January as National Drug and Alcohol Facts Week. ... As a community, we can advocate for effective treatment, but also especially effective prevention ...
(Date:1/23/2017)... ... January 23, 2017 , ... ... science companies, has achieved ISO 17100:2015 certification following a comprehensive audit performed ... the globally recognized standard that establishes guidance for critical processes within translation, ...
(Date:1/23/2017)... ... January 23, 2017 , ... The iaedp Foundation, recognized ... treatment providers who treat the full spectrum of eating disorder problems, proudly announces ... Council consists of the leading eating disorder treatments centers located throughout the U.S. ...
(Date:1/23/2017)... , ... January 23, 2017 , ... Sharon Kleyne, America’s ... air to educate listeners about the benefits of making new water infrastructure a number ... said, “it’s appropriate that we expect water infrastructure to become a top priority of ...
Breaking Medicine News(10 mins):