NEW YORK, NY - December 14, 2010 -- Torque Medical Holdings, LLC, a company founded by Torque Capital Group, a New York-based private equity firm, announced today that it has acquired J-Pac/Doyen Medipharm, a global leader in contract manufacturing and high volume precision machinery for the medical device and pharmaceutical industries.
J-Pac and Doyen Medipharm together bring a unique combination of services to the medical device and pharmaceutical industries. As a contract manufacturer, J-Pac produces a wide range of advanced medical products ranging from implantable surgical products and orthopedic devices to diagnostic and oral thin films. J-Pac is investing in a number of areas including pharmaceutical products and is expanding its manufacturing footprint, including in Asia. Through its Doyen Division, the Company provides precision high-volume production equipment to medical device and biopharmaceutical companies for a number of applications including: wound care, advanced converting and packaging solutions and oral strip production with more than 200 machines in place worldwide.
Joseph E. Parzick, Managing Partner of Torque Capital, commented “We were attracted to J-Pac and Doyen because they enjoy strong brand recognition in the field of medical manufacturing and produce high quality products for a wide range of customers, large and small. We believe there is tremendous growth potential in high-value added outsourced manufacturing for the medical market as healthcare spending continues to increase worldwide due in part to the demands of an aging population. As we continue to add resources and capabilities, J-Pac and Doyen Medipharm are well positioned to become the go-to provider in the medical field.”
“We are very excited to join forces with Torque Capital” said Richard Eagling, CEO of J-Pac and Doyen Medipharm. “The prospects for the future expansion of the company are greatly enhanced as we benefit from new investment and access to the wide-ranging manufacturing expertise and market access of the Torque operating resources.”
About J-Pac and Doyen Medipharm
Headquartered in Somersworth, NH, J-Pac is a leading contract manufacturer and equipment maker for medical device and biopharmaceutical companies. J-Pac’s contract manufacturing division specializes in medical devices, medical packaging, advanced medical products and drug delivery systems. Doyen Medipharm provides precision high-volume production equipment to medical device and biopharmaceutical companies around the world. The company has facilities in New Hampshire, Florida, United Kingdom and Malaysia. www.j-pac.com and www.doyenmedipharm.com.
About Torque Capital Group
Torque Capital Group is a New York-based private equity firm that actively partners with high-quality management teams to invest in growth oriented manufacturing businesses in attractive industries. Torque professionals have an average of more than 20 years’ experience in principal investing, M&A and capital markets. The Torque team maintains a robust network of operating partners and advisors, bringing hands-on, process driven, operational experience with a global reach to their portfolio companies. www.torquecap.com
For further information contact:
P. Richard Eagling Chief Executive Officer J-Pac/Doyen Medipharm 25 Centre Road Somersworth NH 03878 603 692 9955 reagling@j-pac.com
