LOGAN, Utah & VANDALIA, Ohio--(BUSINESS WIRE)--MedicineLodge, Inc. and Leis Medical, Inc. announced the completion of a merger that creates a comprehensive outsourcing solution for medical device companies. iMDs, which has a particular focus on the orthopedics industry, will offer customized sourcing services to provide exceptional responsiveness at every stage of the product life cycle – from idea to sale.
These customized sourcing services will be known as:
iMDs Co-InnovateTM – outsourced product development and innovation services
iMDs Prototype - prototyping services for products under development
iMDs Test - testing services for products under development
iMDs Express - rapid turn-around manufacturing for small lots and clinical validation lots
iMDs Launch - time-definite manufacturing to support new product launches
iMDs Continuous Improvement - manufacturing of ongoing sales replenishment
“By combining our two companies, we are uniquely positioned to provide Product Life Cycle Sourcing™ for our medical device customers. MedicineLodge’s proven ability to innovate and rapidly develop new products that improve patient outcomes and Leis Medical’s recognized position as a leading supplier of surgical implants and instruments creates an incredible value proposition for our customers,” stated Wade Fallin, who will serve as President and CEO of iMDs.
Harold Linville, the new Chairman of iMDs and the former CEO of Leis Medical, states that, “Turnkey sourcing of new product lines, from new concept innovation through product sales, provides our customers with very attractive cost efficiencies and accelerated time to market. This will allow our customers to bring additional new products to market each year that can produce incremental sales and help them gain market share.”
“The core competencies of the two companies are exceptionally complementary,” commented Fallin. “We believe iMDs will ultimately help reduce the number of supply chain vendors our OEM customers need to access and accelerate the time required for new product introductions for large medical device OEMs, venture-backed medical device companies, and surgeons seeking a partner to help them take their ideas from concept to reality.”
MedicineLodge, Inc. was acquired by iMDs, which is controlled by the private equity firm, Arsenal Capital Partners, who had previously acquired Leis Medical. As a result of the acquisition, both MedicineLodge and Leis Medical will be divisions of iMDs.
About MedicineLodge, Inc.:
MedicineLodge, Inc. partners with physicians, venture capital firms and corporations to develop medical devices that improve patient outcomes. The company provides comprehensive product development services and innovative technology solutions to the medical device industry. Founded in 2000, the company employs approximately 70 people.
About Leis Medical, Inc.:
Leis Medical is a world-class and global provider of orthopedic implants and instrumentation servicing to the medical original equipment manufacturer (OEM) industry. A manufacturer of medical devices for more than 25 years, the company has recently experienced rapid growth and is committed to making capital investments in technology and personnel. Leis Medical is headquartered in Vandalia, Ohio, and has sales offices in Winona Lake, IN and Memphis TN. Founded in 1950, the company employs approximately 200 people.
About Arsenal Capital Partners:
Arsenal Capital Partners is a New York-based private equity firm that makes control investments in specialty manufacturing and service companies. Arsenal invests in growing sectors where they have knowledge and expertise, and in niche leaders that have the potential for Arsenal and management to create additional value. Arsenal focuses in the healthcare and specialty industrial sectors, including medical devices, pharmaceuticals, specialty chemicals, aerospace/defense, specialty components and distribution/logistics. The firm currently has $800 million of committed equity capital.
Wade Fallin, 435-753-7675