Tower Three Partners has made a controlling stake in Haltom City, Texas-based Nurse Assist LLC, a maker of medical devices. No financial terms were disclosed. In conjunction with the funding, Kevin Seifert has become the CEO of Nurse Assist.
GREENWICH, Conn., July 18, 2018 /PRNewswire/ — Tower Three Partners (“Tower Three”), a leading operationally-oriented private equity firm that invests in a concentrated portfolio of U.S.-based middle market companies, today announced that it has made a controlling investment in Nurse Assist, LLC (“Nurse Assist” or the “Company”), a privately-held, certified and FDA-registered manufacturer of medical devices and products that help improve the quality of care and life for patients. In connection with the investment, Kevin Seifert has assumed the role of Chief Executive Officer of Nurse Assist. Nurse Assist’s founder and previous CEO, Kevin Kile, will remain on the Company’s Board of Directors.
Founded in 1999 and headquartered in Haltom City, Texas, Nurse Assist is a fully-integrated medical device manufacturer focused on providing the highest quality of products and services to patients across the world. With superior quality, low-cost and consistent manufacturing capabilities, Nurse Assist has established itself as an innovative leader in the production of United States Pharmacopeia (USP) sterile water and normal saline. The Company’s products currently extend to four principal categories of medical devices, including USP water and saline and infusion care products, convenience kits, interconnecting cables and patient safety. With significant investment in automation and product development and an established platform in the dynamic and emerging pre-filled syringe market, the Company is well-positioned to meet the needs of its customers in the expanding senior population and continue on its trajectory of growth and strong performance.
Kevin Seifert, Chief Executive Officer of Nurse Assist, said, “As Nurse Assist continues to expand its operations and gain market share as a full-service provider of leading and trusted medical devices, including our USP sterile water and saline pre-filled syringe business, we will work aggressively to scale our business and expand distribution while leveraging our strong customer relationships and product development capabilities. With a loyal customer base, best-in-class manufacturing and an experienced management team, our fully-integrated business is uniquely positioned to capture the compelling infusion care product and patient care market opportunities ahead.”
Kevin Kile said, “We are thrilled to partner with Tower Three as Nurse Assist enters its next phase of growth servicing multiple high-volume, fast-growth markets. With automated production and in-house capabilities to maintain high capacity and quality, Nurse Assist is built on integrated manufacturing, from concept and design to validation and verification. I am confident our stakeholders – including customers, patients and employees – will benefit from Tower Three’s experience and expertise in helping companies broaden their infrastructure, strengthen operations and create greater scale as Nurse Assist continues to increase capacity and drive growth.”
William D. Forrest, Managing Partner of Tower Three, said, “We see enormous long-term potential in Nurse Assist and believe this is the ideal time to facilitate accelerated growth of a proven business. With this investment, Tower Three will leverage our deep operational experience and capital to help Nurse Assist build on its existing market position and further establish itself as a leading medical device provider. With Tower Three’s support, we are confident that Nurse Assist’s outstanding management team, led by Kevin Seifert, will capitalize on the Company’s tremendous market opportunities and continue to drive growth and profitability across the business.”
Terms of the transaction, which was completed in June 2018, were not disclosed.
About Kevin Seifert
Kevin Seifert is a leading innovator in the medical device industry with more than 20 years of operational experience in global healthcare. He most recently led Tower Three Medical, the healthcare-focused investment initiative of Tower Three Partners, and served on the Board of Directors of Facet Technologies, an FDA-certified engineering and manufacturing company specializing in the development of intuitive hand-held medical devices. Mr. Seifert previously served as Global President of Valleylab, Covidien’s electrosurgical platform, and Global President of Becton, Dickinson’s Consumer Healthcare division, where he oversaw all global functions for diabetes products and ACE bandage products. Prior to that, he was President of Terumo Medical Care Products North America. Earlier in his career, he was the Vice President of Marketing and Sales and Investor Relations for Bio-Plexus Inc., a medical device manufacturer. Mr. Seifert received his Bachelors of Science degree in Marketing from University of Southern New Hampshire and holds multiple medical device patents.
About Tower Three Partners
Tower Three Partners is a leading operationally-oriented private equity firm that invests in a concentrated portfolio of U.S.-based middle market companies. With long-term committed capital from major institutional investors and a senior management team that collectively has decades of experience revitalizing businesses, the firm targets equity investments of $50M to $150M that provide a catalyst for growth.
Tower Three Partners works collaboratively with the management teams of its portfolio companies to prioritize and implement transformative changes in operations, strategy, growth and/or capital structure to significantly improve business performance. Its professionals are experienced in operational improvement, revenue acceleration and mergers & acquisitions. The firm has invested in a range of businesses, including retail, consumer, healthcare, automotive and telecommunications.
For more information, visit our website at www.towerthreepartners.com or call 203-485-5800.
About Nurse Assist
Founded in 1999, Nurse Assist is a certified, FDA-registered manufacturer of medical devices and products that help improve the quality of care and life for patients. The company has established itself as a leader in the production of United States Pharmacopeia (USP) sterile water and normal saline, and its products extend to four principal categories of medical devices: USP water and saline and infusion care products, convenience kits, interconnecting cables and patient safety. Nurse Assist operates a fully-integrated, 131,200 square foot production facility at its headquarters in Haltom City, Texas.
For more information, visit our website at http://www.nurseassist.com/ or call 800-649-6800.