Flexan Medical Holdings, a portfolio company of Linden Capital Partners since February 2015, has acquired Medron, a contract manufacturer of medical devices.
Medron provides design engineering, product development, prototyping, and high volume manufacturing services using a range of materials, including medical grade urethanes, silicones and engineered thermoplastics. The company’s primary products include catheters and endoscopy products. Medron, founded in 1994, has two facilities in Salt Lake City and approximately 170 employees (www.medroninc.com).
Flexan Medical is an outsourced manufacturer of silicone and rubber components sold into the implantable medical device, hearing technology and industrial markets. The company is led by President & CEO Jim Fitzgerald and has over 500 employees. Flexan Medical is headquartered in Chicago with two manufacturing facilities in Chicago and one in Suzhou, China. The company operates through two business units: FMI – a manufacturer of silicone rubber components for use in Class II disposable and Class III implantable medical devices (www.fmimed.com); and Flexan – a custom molder with expertise in difficult geometries and bonding rubber to metal (www.flexan.com).
The buy of Medron continues Linden’s strategy of building a large custom medical device manufacturer to benefit from the trend of purchasing consolidation by companies in the medical device industry. “The addition of Medron significantly enhances our contract manufacturing service offerings through the combination of world class elastomer component molding, device design, secondary operation services, and diversified global manufacturing locations,” said Ron Labrum, Linden Operating Partner and Chairman of Flexan Medical.
Linden Capital Partners is focused exclusively on leveraged buyouts in the healthcare and life science industries with a specific interest in medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Linden’s strategy is based upon three elements: healthcare and life science industry specialization; integrated financial and operating expertise; and strategic relationships with large corporations. The firm is based in Chicago (www.lindenllc.com).
© 2016 Private Equity Professional | December 8, 2016
