Linden Capital Partners and DW Healthcare Partners have acquired Edge Systems, a manufacturer and marketer of non-invasive equipment and consumables used in aesthetic skin health treatments. Edge Systems was a portfolio company of Main Post Partners and Weston Presidio.
Edge’s leading product is the HydraFacial line of facial skin rejuvenation devices, which provide a non-invasive, multistep treatment in one sitting that delivers results without downtime or irritation. Other products include surgical smoke evacuators and microdermabrasion systems. Edge has a current installed base of over 7,000 systems placed with dermatologists, plastic surgeons, and medical spas across 75 countries. Edge holds over 17 US and worldwide patents with an additional 14 patents pending. Edge was co-founded by Bill Cohen and Roger Ignon and is headquartered near Long Beach in Signal Hill, CA (www.edgeforlife.com).
At closing, Linden and DW Healthcare named Clint Carnell and Steve Fanning as the CEO and Chairman of Edge, respectively. Mr. Carnell is a 25-year medical device and aesthetics veteran who previously held leadership positions at Solta Medical, Covidien and Bausch & Lomb. Mr. Fanning has a background in healthcare, aesthetics, and consumer pharmaceuticals. Currently CEO of Z-Medica, Mr. Fanning has also served as CEO of Solta Medical, CEO of Ocular Sciences, and held various senior leadership positions at Johnson & Johnson. Both executives were instrumental in searching the aesthetic skin health sector and leading the due diligence of Edge Systems.
“Edge is recognized as a pioneer in non-invasive aesthetic treatments, and we are excited by the continued growth potential of this business,” said Mr. Fanning. “With a unique technology and strong track record of customer and end-user satisfaction, Edge is well-positioned to address the growing demand for non-invasive facial rejuvenation treatments.”
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).
DW Healthcare Partners invests from $15 million to $60 million in North America-based healthcare companies that have at least $5 million of EBITDA. The firm was founded in 2002 and has offices in Toronto and Park City (www.dwhp.com).
Brian Miller, Managing Partner at Linden, and Doug Schillinger, Managing Director at DW Healthcare, led the transaction.
Silver Point Capital (www.silverpointcapital.com) and Monroe Capital (www.monroecap.com) provided debt financing for the transaction.
© 2016 Private Equity Professional | December 12, 2016
