Galen Partners has sold Specialized Health Product International Inc. to C.R. Bard Inc. for $68.4 million in cash. SHPI is a provider of disposable medical products for clinician and patient safety.
Galen Partners is pleased to announce the completed sale of Specialized Health Product International, Inc. (SHPI), a Galen III portfolio company, to C.R. Bard, Inc. for $68.4 million in cash. The transaction closed on Thursday, June 5, 2008.
“Galen Partners is very pleased to have financed and guided SHPI into a leader for medical safety needles,” said David W. Jahns, Managing Director with Galen Partners. “Jeff Soinski and the SHPI management team have done an outstanding job creating shareholder value and leading SHPI through this transaction.”
SHPI, a Deloitte Technology Fast 500 company for the past three consecutive years, is a leading developer, manufacturer and marketer of proprietary disposable medical product for both clinician and patient safety. The company has developed multiple safety needle products based on a broad intellectual property portfolio that applies to virtually all medical needles used today.
Jeff Soinski , SHPI President and CEO, who was named 2008 Utah CEO of the Year for small public companies, said, “Over the last several years and with the support from Galen, we have transitioned SHPI from an underperforming R&D company to a profitable operating company with clear growth prospects for the future. This partnership has been one of the most rewarding of my career.”
About Galen Partners (www.galen.com)
Galen Partners is a private equity firm based in