Aspen Surgical Products Inc., a portfolio company of RoundTable Healthcare Partners, has agreed to acquire the surgical blades and scalpels business (Bard-Parker) of Becton, Dickinson and Company. No financial terms were disclosed.
RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the health-care industry, announced today that its portfolio company, Aspen Surgical Products, Inc. (“Aspen”) has entered into an agreement with BD (Becton, Dickinson and Company) to acquire the Bard-ParkerTM surgical blades and scalpels business. BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems, and reagents.
The transaction is expected to be completed by September 30, 2010 subject to customary closing conditions. Financial terms of the agreement were not disclosed.
“The acquisition of the Bard-ParkerTM surgical blades and scalpels business will advance our strategy of becoming a leading provider of patient and staff safety products to the operating room,” said Greg Pritchard, CEO of Aspen. “The Bard-ParkerTM brand, which was initially established in 1916, is well-recognized as the leader in the surgical blades and scalpel market in the United States and Canada offering considerable performance and safety benefits over other products.”
As part of the business, Aspen is acquiring a state-of-the-art facility in Las Piedras, Puerto Rico dedicated to manufacture of the Bard-ParkerTM product line.
“The operating room market is important healthcare segments for us,” said Joseph F. Damico, Founding Partner and Co-Chairman of RoundTable. “Aspen’s acquisition of the surgical blades and scalpels business will represent the sixth and largest acquisition we have facilitated for them since making our initial investment in the platform in 2006. Our in-house operating teams are moving quickly across all functions, sales, marketing, manufacturing, IT and human resources, to affect a smooth transition and position Aspen for growth.”
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.