6/9/2010 8:58:12 AM
LAKE FOREST, Ill., June 8 /PRNewswire/ -- RoundTable Healthcare Partners ("RoundTable"), an operating-oriented private equity firm focused exclusively on the health-care industry, announced today that its portfolio company, Argon Medical Devices, Inc. ("Argon"), entered into an agreement with BD (Becton, Dickinson and Company) for BD's critical care systems product platform consisting of blood pressure monitoring devices, and central venous, pulmonary artery and extended dwell catheters. BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems, and reagents.
The transaction is expected to be completed by September 30, 2010 subject to customary closing conditions. Financial terms of the agreement were not disclosed.
"The BD pressure monitoring and catheter products are well recognized by hospitals and physicians worldwide," said Michael J. Hudson, CEO of Argon. "The acquisition of these well-recognized products rounds out the Argon portfolio giving us a significant presence in the Interventional Radiology, Critical Care and Cardiac Catheterization markets."
A majority of the pressure monitoring and catheter products are manufactured in a dedicated facility in Yishun, Singapore.
"The acquisition of these product lines will significantly increase Argon's global presence in these markets," said Joseph F. Damico, Founding Partner and Co-Chairman of RoundTable. "Our in-house resources in sales, manufacturing, IT and human resources will be working together with the Argon team to effectively deal with the associated complexities of integrating these two businesses."
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.1 billion in capital, including two equity funds totaling $900 million and a subordinated debt fund of $200 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.
SOURCE RoundTable Healthcare Partners