PE_backed Avalign acquires Slice

Avalign Technologies Inc has acquired Akron, Ohio-based Slice Manufacturing Studios, a medical devices contract manufacturer.

Avalign Technologies Inc has acquired Akron, Ohio-based Slice Manufacturing Studios, a medical devices contract manufacturer. No financial terms were disclosed. Avalign is backed by Linden Capital Partners.

PRESS RELEASE

Bannockburn, IL (January 4, 2020) – Avalign Technologies, Inc. (“Avalign”), a Bannockburn, IL-based premier provider of proprietary coatings and full-service precision manufacturer and distributor of implants, implant components, specialty surgical instruments, cutting tools, and delivery systems to the orthopedic, spine, trauma, and sports medicine medical device and specialty surgical markets, announced today that it has completed the acquisition of the assets of Slice Manufacturing Studios (“Slice” or the “Company”), a contract manufacturer of medical devices based in Akron, Ohio. Slice manufactures metal implants, implant components, and instruments for the hip, spine, and knee end markets, with significant expertise in additive manufacturing, subtractive manufacturing, and sterile packaging.

Joe Lah, General Manager of Slice, said, “Slice is excited to become a part of Avalign Technologies. The Company was founded in 2017 as a captive manufacturer to NextStep Arthropedix (“NextStep”), and we have since grown significantly with NextStep, as well as with other medical device OEM customers who understand our expertise in additive manufacturing, as well as the importance of combining downstream subtractive manufacturing and sterile packaging. Joining Avalign enables us to accelerate our growth as part of a leading orthopedic solutions platform.”

“We are very excited to add Slice’s additive manufacturing, high tolerance subtractive manufacturing, and sterile packaging capabilities to complement our broad array of existing capabilities and offerings,” said Jeff McCaulley, CEO of Avalign. “As a pioneer in additive manufacturing of metal implants and components, Slice has built a reputation for industry-best standards and processes. The addition of these capabilities and new capacity puts us at the forefront of what will be one of the fastest growing sub-segments in our space.”

Ernest Waaser, an Operating Partner at Linden Capital Partners and Chairman of Avalign Technologies, added, “The addition of Slice enhances Avalign’s manufacturing services offerings as part of our continued focus on strategically investing in and expanding the capabilities that we offer our customer base.”

Honigman LLP served as legal advisor to Avalign.

About Avalign Technologies, Inc.
Avalign Technologies, Inc. is comprised of two divisions, Avalign Orthopedics and Avalign Surgical. Avalign Orthopedics manufactures premium implants and instruments for orthopedic, spine, trauma, and sports medicine applications. Avalign’s proprietary coatings, advanced manufacturing, extensive engineering design and full-service offerings set the Company apart in the precision manufacturing medical device market. Avalign Surgical sells premium surgical instruments to hospitals, distributors, and orthopedic equipment manufacturers around the world. With expertise in both German Surgical Instruments and in sourcing specialty surgical instruments, Avalign Surgical makes it easy to get the instruments you need for any application. For more information, please visit www.avalign.com.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested more than $2 billion in healthcare companies and has raised nearly $3 billion of commitments, augmented by capital provided by the firm’s limited partners for larger transactions. For more information, please visit www.lindenllc.com.