Empire Investment Exits MSI Surgical

Empire Investment Holdings has exited its investment in MSI Surgical Solutions, selling the company to Synergy Health. Terms of the deal were not disclosed. Synergy Health is a publicly traded provider of specialist outsourced support services to health-related markets. MSI provides outsourced sterilization solutions for reusable surgical instruments, basins and health care supplies.


Empire Investment Holdings (“Empire”), a private investment firm focused on the acquisition and strategic management of non-core business units from public and private corporations, announced today that it has completed the sale of its portfolio company MSI Surgical Solutions (“MSI”). Synergy Health (LSE: SYR), a leading provider of specialist outsourced support services to health related markets in the UK & Ireland, Europe & the Middle East, Asia & Africa, and the Americas, purchased the portfolio company.


MSI is the market leader in the Tri-State area providing a complete outsourced sterilization solution for reusable surgical instruments, basins and supplies to the healthcare industry. Since Empire acquired the business in 2006 from Teleflex Corporation, the Company has had significant success, driven by the contributions of the staff and investments in technology, sterilization equipment, facilities and sales and marketing.


“The company has been a part of our family for several years,” said David F. Alfonso, Empire’s chairman and chief executive officer. “We are grateful to the associates and management team at MSI for the success they have delivered. Synergy Health has a clear vision for MSI and is the right strategic owner.”


“Empire identified MSI as a great investment opportunity in healthcare services,” said Jim Frawley, Senior Managing Director & Group Head Mergers & Acquisitions at FBR Capital Markets. “They invested in the strategic buildout of MSI to position the company as a platform for future growth. It was a privilege to work with the Empire and MSI teams to reach this successful outcome.”


“We look forward to working with the team at MSI Surgical Solutions to bring together our combined strengths and expand the company from a local to a national provider of outsourced central sterilization services for healthcare providers,” said Dr. Richard M. Steeves, chief executive officer of Synergy Health.


Empire engaged FBR & Co. as its exclusive sell-side advisor and Winston Strawn as its legal counsel.