MGC, which is backed by Altus Capital Partners, has acquired Lemon Medical, a German medical tech company. No financial terms were disclosed.
SAINT PAUL, Minn.–(BUSINESS WIRE)–MGC Diagnostics Corporation (“MGC”), a global medical technology company dedicated to cardiorespiratory health solutions, and a portfolio company of Altus Capital Partners, Inc. (“Altus”), announced today the acquisition of Lemon Medical, GmbH. Lemon is a medical technology company, headquartered in Hammelburg, Germany. Financial terms of the transaction were not disclosed.
Lemon Medical, a German Limited Liability Company, founded in 2009, specializes in the design, development, production, and distribution of single-patient use disposables. These include viral and bacterial filters designed to protect patients, medical personnel, and diagnostic instruments against cross contamination during cardiorespiratory function testing. The usage of these protective products is experiencing significant growth because of the COVID pandemic and are now globally required patient safety components. In addition to the disposable products, Lemon develops, manufactures, and markets non-invasive diagnostic systems for detecting, classifying, and managing cardiorespiratory disease.
“MGC Diagnostics is excited to further strengthen its in-house manufacturing capabilities, product offering, and European presence through this acquisition of Lemon,” said Greg Greenberg, Co-Founder and Senior Partner of Altus Capital Partners. “We are thrilled about the opportunities this partnership will provide.”
“Following an exhaustive evaluation of the cardiorespiratory disposable filter market, MGC Diagnostics identified Lemon Medical, and its founder, Alfred Albert, as the ideal partner,” said Todd Austin, Chief Executive Officer of MGC. “This is another strategic acquisition for MGC Diagnostics, providing our own source of disposables as well as a significant footprint in the German market, one of the top cardiorespiratory scientific communities in the world.”
About MGC Diagnostics
Founded in 1977 and headquartered in Saint Paul, Minnesota, MGC Diagnostics Corporation, develops, manufactures, and markets non-invasive diagnostic systems for detecting, classifying, and managing cardiorespiratory disease. This singular focus guides its strategy and defines its commitment to customers, employees. and the cardiorespiratory industry. Its experience provides unmatched insight for solving today’s challenges and anticipating tomorrow’s opportunities. Please visit mgcdiagnostics.com for more information.
About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses that employ technology and automation. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and partner with the management teams of our operating companies to achieve growth. Please visit altuscapitalpartners.com for more information.
About Lemon Medical, Inc.
Lemon Medical, a German Limited Liability Company, founded in 2009 by serial entrepreneur Alfred Albert, is headquartered in Hammelburg, Germany. Lemon Medical designs, develops, and distributes single patient use disposable bacterial and viral filters used in a variety of cardiorespiratory medical products. Please visit Lemon Medical for more information.