Altus Capital Partners has acquired ChoiceSpine LP, a designer, manufacturer, and marketer of spinal implants, instrumentation and biologics for the surgical treatment of complex spine disorders.
ChoiceSpine products include minimally invasive, cervical, thoracolumbar, interbody, lateral, and biologics kits and implants. The company was founded in 2006 by Rick Henson and Marty Altshuler and is based in Knoxville, TN (www.choicespine.com).
“We look forward to working with Altus in further developing our offerings as well as expanding into new product verticals to continue to grow the company and provide patient solutions for the treatment of spinal disorders,” said Mr. Altshuler.
“We look forward to working with Rick and Marty, who continue to invest alongside us in the company, in further capitalizing on the depth of their design and engineering capabilities, sales growth and momentum,” said Altus Capital Partner Heidi Goldstein.
This is Altus’ third acquisition in less than two years and its second in the medical technology space. In December 2017 the firm took private St. Paul, MN-based MGC Diagnostics Corporation, a designer and manufacturer of non-invasive cardiorespiratory diagnostic equipment, accessories, and supplies that are used by healthcare providers to manage chronic pulmonary disease, asthma, and cardiorespiratory disease.
Altus invests in corporate divestitures, management-led buyouts, and privately-held or family-owned businesses with manufacturing operations based primarily in the Midwest and Eastern regions of the United States. Target companies will have at least $5 million of EBITDA and an enterprise value from $30 million to $100 million.
“We recognize the need in the medical technology space for proven spinal products that can enhance the quality of life for spinal patients,” added Altus Co-Founder and Senior Partner Gregory Greenberg. “ChoiceSpine, a global medical device corporation specializing in innovative solutions for both spinal fusion hardware and biologics, demonstrates a track record of proven innovation, strong sales growth, increased distribution and the necessity of their products in the marketplace.”
Altus is headquartered in Wilton, CT with an additional office near Chicago in Lincolnshire, IL (www.altuscapitalpartners.com).
© 2018 Private Equity Professional | November 26, 2018
