New Heritage Capital has acquired Rhythmlink International, a designer and manufacturer of disposable neurodiagnostic devices and consumables.
Rhythmlink designs, manufactures and distributes consumable medical electrodes and provides custom packaging, private labeling, and other custom products to hospitals, medical centers, and other healthcare service providers.
The company was founded in 2002 by CEO Shawn Regan and COO Michael O’Leary and is headquartered in Columbia, SC (www.rhythmlink.com).
“We chose to partner with Heritage because of their experience in backing founder-owned businesses and investing in healthcare, but most importantly because their investment structure enabled us to retain operating control,” said Mr. Regan.
“We are thrilled to partner with Shawn, Michael and the entire Rhythmlink team to help them accelerate growth, continue to develop innovative products and provide customers with the highest level of quality and service,” said Melissa Barry, a partner at New Heritage. “Rhythmlink is a high-growth business with an incredible amount of opportunity to further expand the applicability of neuro and brain health monitoring throughout the healthcare continuum. We are excited about what the future will bring.”
New Heritage invests from $15 million to $40 million of minority or majority equity in companies with $4 million to $20 million of EBITDA. Sectors of interest include business services, healthcare and manufacturing. The firm was founded in 2006 and is headquartered in Boston (www.newheritagecapital.com).
© 2019 Private Equity Professional | March 4, 2019