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Tecomet, Backed by Genstar, Buys Mountainside, Maker of Endoscopes

Other recent acquirers of medical devices include J&J, TPG and Zimmer Biomet

Tecomet Inc. has acquired medical device manufacturer Mountainside Medical for an undisclosed amount. The buyer is backed by Genstar.

Mountainside makes medical instruments such as laparoscopes and endoscopes. The target was founded in 2006 and is based in Boulder, Colorado.

“The acquisition of Mountainside Medical greatly expands our capabilities and scale in this highly attractive end market,” says Tecomet CEO Mark Kemp.

Tecomet, founded in 1964 and based in Wilmington, Massachusetts, makes metal parts that are used for spinal implants. In addition, Tecomet also produces radar and vision systems for the aerospace and defense sector. Genstar bought Tecomet in 2013. In 2014, Tecomet added Symmetry Medical.

Genstar, based in San Francisco, focuses on investing in middle-market companies in the industrial technology, software, healthcare and financial services industries. Infinite RF Holdings Inc., backed by Genstar, has recently acquired L-Com Global Connectivity, a supplier of wired and wireless connectivity products.

Medical device companies continue to receive strong buyer interest. Johnson & Johnson (NYSE: JNJ) agreed to buy Abbott Laboratories’ (NYSE: ABT) eye-surgery equipment unit; TPG Capital acquired Beaver-Visitec International, another eye surgery device maker; and áZimmer Biomet Holdings Inc. (NYSE: ZBH) agreed to purchase spinal surgery device producer LDR Holding Corp. (NYSE: ZBH).

The outlook for M&A in the healthcare sector was much more positive in August than it was earlier in 2016, according to Mergers & Acquisitions’ Mid-Market Pulse (MMP), a forward-looking sentiment indicator, published in partnership with CT.

 

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