Arcline bought a controlling stake in Resolution Medical, a medical device contract development and manufacturing organization focused on growing medical technology segments. Culper Capital Partners will join as a minority investor in the company, while founders Steve Schmidt and Shawn Patterson will remain invested. Ex-GI Supply CEO Luke Johnson has been named executive chairman.
MINNEAPOLIS, June 2, 2021 – Arcline Investment Management (“Arcline”), a growth-oriented private equity firm, today announced that it has acquired a controlling stake in Resolution Medical, LLC (the “Company”) from founders Steve Schmidt and Shawn Patterson.
Resolution Medical is an end-to-end contract development and manufacturing organization (CDMO) focused on complex, rapidly growing medical technology segments, including structural heart, neuromodulation, heart failure, electrophysiology, oncology, and ENT. The Company’s capabilities include device design, prototyping, regulatory support, system development, and commercial-scale manufacturing. Known for its rapid development timelines, highly experienced engineers, and deep clinical anatomical expertise, Resolution Medical is a partner to many of the world’s leading medical device startups and multinational OEMs. Mr. Schmidt and Mr. Patterson, experienced medical device executives with prior tenures at Greatbatch Medical, will continue to be significant investors in the Company. Luke Johnson, former CEO of GI Supply and senior commercial leader at Medtronic and Hill-Rom, will be joining them as Executive Chairman. The existing Resolution Medical senior leadership team will remain in place and continue to lead the Company.
Arcline commented, “We are excited to partner with Steve, Shawn, Luke, and the broader Resolution Medical team to continue building a leading CDMO platform serving the most complex and highest-growth therapeutic and diagnostic technologies. Steve and Shawn have built a world-class organization and a customer-centric culture that is consistent with the qualities that Arcline looks for in our investments.”
Mr. Schmidt added, “Arcline’s growth mindset and collaborative approach to working with their portfolio companies makes them the ideal financial partner for Resolution Medical’s next phase of growth. We look forward to working with Arcline and Luke to continue growing this great business.”
Culper Capital Partners, led by Adam Cook, will be a minority investor in the Company.
About Arcline Investment Management
Arcline is a growth-oriented private equity firm that seeks to invest in thriving middle market businesses with structurally recurring revenue streams in high value industries. Arcline’s differentiated investment strategy combines deep business model expertise, proactive thematic research, an unrelenting focus on the upside and a collaborative, management-first approach to value creation. The firm’s primary sectors of interest include medical and biopharmaceutical technology, energy transition, defense, aerospace, critical infrastructure services, and specialty materials. Launched in 2019, Arcline currently has $4.3 billion in cumulative capital commitments. For more information about Arcline’s investment philosophy and values, please visit www.arcline.com.
About Resolution Medical
Resolution Medical was founded in 2012 and has grown to become a leading medical device CDMO serving the most demanding interventional therapies and customers. With 139 employees, including over 70 engineers, and expansive manufacturing capabilities at its ISO 13485 and FDA registered facility, Resolution Medical is a go-to-supplier for the most anatomically and technologically advanced interventional therapies. For more information about Resolution Medical, please visit www.resolutionmedical.com/.