Argentum Medical LLC, which is backed by Shore Capital Partners LLC, has acquired TheraBond products from Alliqua BioMedical Inc. No financial terms were disclosed. The TheraBond products include contact dressings, island dressings and wraps for burn care, surgical site care, and wound care.
CHICAGO–(BUSINESS WIRE)–Shore Capital Partners, LLC (“Shore Capital” or “Shore”) is pleased to announce that Argentum Medical, LLC (“Argentum”), its advanced wound care platform, has acquired the TheraBond® family of products from Alliqua BioMedical, Inc. (“Alliqua”). These products, branded TheraBond® with unique SilverTrak™ technology, include contact dressings, island dressings and wraps for burn care, surgical site care, and wound care.
“Alliqua has done an excellent job establishing these products as reliable, high-quality solutions for treating burns and other advanced wound care applications, and we have enjoyed working with them on this transaction,” said Raul Brizuela, President and CEO of Argentum. “We are excited to add the TheraBond® products to Argentum’s existing market leading Silverlon® silver plated nylon product portfolio, further strengthening our clinically proven and cost-effective offering for clinicians and patients in all advanced wound care settings.”
“This is an important acquisition for Argentum, and is consistent with the strategy we developed when we partnered with Raul Brizuela and the management team at Argentum earlier this year,” said Don Pierce, a Partner of Shore Capital Partners and Chairman of the Board of Argentum. “This acquisition is an excellent fit with the broader strategy of building a leading platform serving the advanced wound care market. This product family will extend Argentum’s burn care penetration and increase the depth of its product portfolio.”
The TheraBond® product line is based on a proprietary and patented manufacturing process where silver is bonded to the entire surface of all fibers of the TheraBond® dressing. When TheraBond® products are placed on the wound, bioactive ionic silver is released in the dressing at a controlled rate, promoting an optimal wound healing environment by creating an antimicrobial barrier to more effectively protect the wound. With its one-piece construction and unique struts between the contact and outer layers, TheraBond® also enables efficient transfer of fluid and exudate away from the wound and into an outer absorptive dressing, while providing rapid, sustained antimicrobial barrier protection.
“We are pleased to complete the sale of our Therabond® product line to Argentum, which will allow Alliqua the opportunity to strengthen our balance sheet and align our effort on our core capability as a regenerative technology company,” said David Johnson, Chief Executive Officer of Alliqua. “We believe Argentum will be a great partner for TheraBond® and will allow the products to continue to help patients around the world.”
About Argentum Medical
Founded in 2001 and located in Geneva, IL, Argentum manufactures and sells innovative wound care products across a wide number of clinical applications, including the Silverlon® (“Silverlon”) brand, its rapidly-growing, proprietary range of silver-based antimicrobial products. The core platform technology in Silverlon is a uniquely designed silver-plated nylon matrix that provides the powerful antimicrobial properties of silver ions in the dressing without staining the skin and without increasing bioburden. Silverlon dressings are used today by surgeons and other healthcare professionals around the world on surgical wounds, burns, chronic wounds, IV catheter-related wounds, and for negative pressure wound therapy. Argentum sells Silverlon’s products in North America, South America, the Middle East, Africa, and Western Europe.
About Shore Capital
Shore Capital Partners is a Chicago-based private equity firm focused exclusively on microcap healthcare investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has approximately $350 million of equity capital under management through various investment vehicles including the recently formed Shore Capital Partners Fund II, L.P. with $190.5 million of capital commitments.