Flexpoint Ford has made an investment in Oakville, Ontario-based Canadian Hospital Specialties Ltd, a maker of medical and surgical products. No financial terms were disclosed. Previously, CHS was majority owned by Cortec Group.
Oakville, ON & Chicago, IL – April 22, 2021 – Canadian Hospital Specialties Ltd. (“CHS”), a leading specialty distributor and manufacturer of medical and surgical products, announced today it has received a strategic investment from Flexpoint Ford (“Flexpoint”), a private equity investment firm specializing in the healthcare and financial services industries. Previously majority-owned by affiliates of Cortec Group, CHS will continue operating as an independent company led by CEO Mike Canzoneri and the company’s current management team, who will continue to be owners in the business. The company will remain headquartered in Oakville, Ontario.
Founded in 1967, CHS is one of the most well-respected providers of innovative medical products and customized patient care solutions for customers throughout the healthcare market in Canada and internationally. CHS serves healthcare providers and patients with a wide range of specialty solutions and locally manufactured products and works to introduce the most advanced medical technology in a mission to improve patient care and outcomes.
“We are delighted to welcome Flexpoint Ford as a highly strategic investor to CHS and are excited to leverage their deep expertise across our focus markets,” said Mike Canzoneri, CEO of CHS. “With this new partnership, we remain well positioned for growth and will continue to provide customers and suppliers with the innovative, essential products and value-added solutions they’ve come to expect from our team for over 50 years.”
“We have followed CHS closely for many years and see numerous opportunities to grow the business over the long term,” said Jonathan Oka, Managing Director at Flexpoint Ford. “The company has a leading market position and well-established reputation within the medical device industry, and we are proud to partner with Mike and his team. The addition of CHS to the Flexpoint portfolio underscores our commitment to investing in high quality healthcare companies in partnership with their management teams and employees.”
The Flexpoint team included Jonathan Oka, Dan Grigorescu and Blake Heyde. As part of the transaction, Flexpoint received financial advice from Cain Brothers, a division of KeyBanc Capital Markets. The company’s financial advisors were Harris Williams LLC and TM Capital Corp. Terms of the transaction were not disclosed.
About Canadian Hospital Specialties
Canadian Hospital Specialties (est. 1967) is a privately held company located in Oakville, ON, Canada that serves customers in the acute care and alternate site healthcare sectors throughout Canada and internationally. CHS provides single-use and other medical products supplied by global medical device manufacturers as well as its own manufactured products, which are marketed under the proprietary MED-RX® brand, across categories including Respiratory, Anesthesia, Perfusion, Interventional, Biopsy, Drainage, Diagnostic Imaging, Pharmacy, Medication Delivery, Neonatal Care, OEM and General Medical. CHS also provides specialty contract manufacturing services for medical device and life sciences companies. For more information about CHS, please visit www.chsltd.com.