New Heritage Capital has made an investment in Columbia, South Carolina-based Rhythmlink International LLC, a maker of disposable neurodiagnostic devices and consumables. No financial terms were disclosed.
BOSTON–(BUSINESS WIRE)–New Heritage Capital (“Heritage”) is pleased to announce a new investment in Columbia, SC-based Rhythmlink International, LLC (“Rhythmlink”), a market leading designer and manufacturer of disposable neurodiagnostic devices and consumables. Rhythmlink’s products provide the connection between “people and machines” in order to identify, record, and monitor important neurophysiological information. Heritage completed its investment via its unique Private IPO® solution, which leaves operating control in the hands of the reinvesting founders while providing them the desired liquidity and financial flexibility to accelerate growth into the future. The investment was completed on February 19, 2019.
“We chose to partner with Heritage because of their experience in backing founder-owned businesses and investing in healthcare, but most importantly because their investment structure enabled us to retain operating control,” said Shawn Regan, CEO and Co-Founder. Michael O’Leary, COO and Co-Founder, added, “The culture we have built with our employees at Rhythmlink and our reputation in the marketplace are incredibly important to us. We wanted a partnership that would ensure this would stay intact.”
Melissa Barry, Partner at Heritage added, “We are thrilled to partner with Shawn, Michael and the entire Rhythmlink team to help them accelerate growth, continue to develop innovative products and provide customers with the highest level of quality and service. Rhythmlink is a high-growth business with an incredible amount of opportunity to further expand the applicability of neuro and brain health monitoring throughout the healthcare continuum. We are excited about what the future will bring.”
Rhythmlink International, LLC designs, manufactures and distributes consumable medical electrodes and provides custom packaging, private labeling, and custom products to leading hospitals, medical centers, and service providers. Rhythmlink is recognized as a leader within its field at providing the important physical connection between patients and the diagnostic equipment to record or elicit neurophysiologic biopotentials. Originally founded by neurodiagnostic technicians and engineers in 2002 and based in Columbia, SC, Rhythmlink strives to provide continuous innovation and superior quality in all of its products. Rhythmlink celebrated 16 years in business in July 2018.
About New Heritage Capital
New Heritage Capital is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives.