Medical Device Maker Tecomet Goes Up on the Block, Sale Could Bring in $1 Billion+
Aug 31 -- Tecomet Inc, a privately held U.S. contract manufacturer of medical devices and surgical instruments, is exploring a sale that could value it at more than $1 billion, including debt, according to people familiar with the matter.
The sale process comes as contractors have benefited in recent years from the healthcare industry's drive to cut costs, hasten research and development times and expand operations around the world.
Genstar Capital, the private equity firm that owns Tecomet, has hired investment bank William Blair & Company, LLC to run an auction for the company, the people said this week, asking not to be identified because the sale process is confidential.
The sale process comes as contractors have benefited in recent years from the healthcare industry's drive to cut costs, hasten research and development times and expand operations around the world.
Genstar Capital, the private equity firm that owns Tecomet, has hired investment bank William Blair & Company, LLC to run an auction for the company, the people said this week, asking not to be identified because the sale process is confidential.