Argon Medical Devices Inc. bought pressure monitoring and catheter product lines from the medical device sector of Franklin Lake, N.J.-based Becton, Dickinson & Co. (NYSE:BDX).
The acquisition comprised BD’s blood pressure monitoring devices and central venous, pulmonary artery and extended dwell catheters forAthens, Texas-based Argon. The deal expands its interventional radiology, critical care and cardiac catheterization product lines.
Argon also acquired a dedicated manufacturing facility in Yishun, Singapore. Argon manufactures its other products in Athens.
As part of the transaction, Lake Forest, Ill.-based private equity firm RoundTable Healthcare Partners, Argon’s parent company, made an equity investment in the device maker and facilitated the completion of new senior credit facilities led by GE Commercial Finance Healthcare Financial Services. The PE firm’s captive subordinated debt fund, Roundtable Capital Partners, also made a private placement of subordinate notes in Argon, according to a press release.