Kohlberg & Company has acquired a majority equity interest in Amendia, a designer, developer, manufacturer and marketer of medical devices used in spinal surgical procedures. Kohlberg invested in Amendia through its $1.6 billion private equity fund, Kohlberg Investors VII, LP.
Amendia’s products include anterior cervical plates; endoscopic spine systems; cervical interbody devices; vertebral body replacements; facet screws; inflatable bone expander systems; and synthetic grafts. The company markets and sells its products through direct sales employees, independent agencies, and distributor partners. Amendia was founded in 2008 by Jeffery Smith and Tim Lusby. The company is headquartered and operates a state-of-the-art manufacturing facility north of Atlanta in Marietta, GA (www.amendia.com).
“We see tremendous growth opportunities for Amendia,” said Chris Anderson, a partner of Kohlberg & Company. “Through its portfolio of products and intellectual property, scalable operational infrastructure, Amendia is positioned to serve the growing demands of the spinal surgery marketplace in the US and beyond.”
At closing of the transaction, Kohlberg hired two new executives to join Amendia: Chris Fair, Chief Operating Officer; and Larry Boyd, PhD, Executive Vice President, Research & Development. Kohlberg also appointed Scott Bruder, MD, PhD, a Kohlberg strategic advisor, to Amendia’s Board of Directors and Executive Committee.
“Amendia has carefully and steadily grown organically and through strategic add-ons to become one of the premier growth companies offering a complete suite of products that meet the needs of surgeons and their patients,” said Mr. Fair, who prior to joining Amendia spent a decade at DePuy Spine, a Johnson & Johnson Company. “I am excited to be joining Jeff Smith, Tim Lusby and their team of professionals at Amendia, and I look forward to helping the company expand its footprint, add resources, and build value for all customers and partners.”
“The solid foundation already in place at Amendia is a distinguishing characteristic that gives this platform so much potential,” said Mr. Bruder, who previously served as Chief Medical and Scientific Officer of Stryker; Chief Science and Technology Officer of Becton Dickinson; and as a Worldwide Vice President at DePuy, alongside Mr. Fair.
Kohlberg & Company invests in companies in the industrial manufacturing; consumer products; business services; healthcare services; and financial services sectors. The firm concentrates on companies with EBITDAs between $20 million and $100 million where it can invest between $50 million and $200 million of equity. Kohlberg & Company was founded in 1987 and is based north of New York City in Mt. Kisco, NY (www.kohlberg.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-3-16