Arlington Capital said today that it acquired medical device maker Avalign Technologies in a sale financed by CIT Healthcare.
Forest, Ill.-based Avalign manufactures implants, specialty instrumentation, cutting tools, cases and trays for the orthopedic medical device and specialty surgical markets.
“We are extremely pleased to be partnering with Arlington Capital. Avalign is committed to improving patient outcomes by providing best-in-class medical devices through our industry leading end-to-end capabilities. We believe that Arlington Capital, which has deep expertise and an impressive track record in healthcare and precision manufacturing, is the ideal partner to help us achieve our goals. We would also like to thank RoundTable Healthcare Partners for all of their support and partnership to date,” Avalign CEO Forrest Whittaker said in a press release.
“Avalign is an established leader in the large and growing orthopedic precision manufacturing market. Recognized across the industry for its superior engineering and manufacturing capabilities, Avalign provides significant value to its OEM partners through design improvement, speed to market acceleration and cost reductions. We look forward to partnering with the highly talented Avalign management team to support the company through its next phase of growth,” Arlington Capital partner Matt Altman said in prepared remarks.
CIT Healthcare said they served as joint lead arranger for a $135 million secured credit facility to support the deal.
Arlington Capital bought Avalign from RoundTable Healthcare partners, who are invested in a handful of medical device companies, such as Argon Medical.
“We’re pleased to lead this transaction as we put our knowledge and extensive expertise in the medical device manufacturing space to work for Arlington. Avalign is focused on serving the growing $36 billion global orthopedic market, serving OEM customers who supply highly demanded technologies to the industry’s fastest growing end-markets, including extremities, sports medicine and trauma,” CIT Healthcare managing director William Douglass said in a prepared statement.
