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HealthpointCapital to Acquire Ideal Medical Products


11/26/2007 7:06:51 AM

PARIS, Nov. 21 /PRNewswire/ -- HealthpointCapital Partners II, L.P., a private equity fund that specializes in orthopedic medical devices, announced today that, through its Healthpoint (Luxco) II S.a.r.l. subsidiary, it has acquired Paris-based Ideal Medical Products, S.A. Ideal Medical Products is the principal shareholder and will remain principal shareholder of leading spinal implant developer Scient'x, S.A.

John McCormick, a Managing Director of HealthpointCapital, said, "We are pleased to announce this all-cash acquisition of Ideal Medical Products. This will allow our firm to directly invest in and grow Scient'x by maintaining and leveraging our existing distributor relationships, investing in product innovation, surgeon training and clinical data programs globally and conducting FDA clinical trials in the United States. We look forward to growing Scient'x with its talented management team and employees."

Formed in 1989, Scient'x is recognized worldwide as a spinal product innovator, having invented key devices used every day in modern spinal fusion and other surgeries. Today, Scient'x sells over 25 distinct products for spinal fusion, motion preservation and total disc replacement.

Olivier Carli, President of Ideal Medical Products said, "I am very pleased with this transaction, which will allow all minority shareholders of Ideal Medical Products to achieve a significant cash premium for their holdings. I look forward to continuing to grow Scient'x with HealthpointCapital as our investment partner."

The acquisition is a two-step process. The initial euro 42.3 million cash payment will purchase the privately held Carli family interest in Ideal Medical Products, and then a tender offer will be made for the public minority interest of Ideal Medical Products for euro 21.56 cash per share. In addition, HealthpointCapital will assume certain assets and liabilities of Ideal Medical Products. Separately, Olivier Carli, Chairman and Chief Executive Officer, will acquire the majority of the Ideal Medical Products hospital engineering assets for euro 7.0 million.

About HealthpointCapital

HealthpointCapital is a values-driven, research-based private equity firm exclusively focused on the musculoskeletal sector -- specifically orthopedics and dental.

Our cumulative 85 years of experience in healthcare technology, research and private investing helps our clients capitalize on the growth and unique investment opportunities in one of the fastest growing sectors of the medical device industry.

HealthpointCapital manages $650 million of institutional capital.

Forward Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainty. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements.

johnmccormick@healthpointcapital.com

CONTACT: John McCormick, Managing Director, HealthpointCapital, LLC,
+1-212-935-7780, johnmccormick@healthpointcapital.com

Web site: http://www.healthpointcapital.com/


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