Sterling Medical Devices, a provider of design, development and regulatory services to the medical device industry and a portfolio company of Ampersand Capital Partners, has recapitalized and merged with RBC Medical Innovations, which looks to bring additional design and development capacity as well as manufacturing capabilities to the combined organization.
As part of the transaction, David Montecalvo has been appointed chief executive officer of the combined company. He joins the management team with over 35 years of experience in the medical technology industry, including executive-level positions at Medtronic and West Pharmaceutical Services. Sterling founder Dan Sterling will remain on the senior leadership team and as a board director. RBC founder Carl Mayer has joined the board of directors.
“Ampersand and Sterling are a perfect strategic fit for RBC’s next stage of growth,” comments Mayer. “We invested several years developing our relationship and shared vision with the Ampersand team and when they made an investment in Sterling, a respected name in medical device design services, it was clear that a combination of our firms was the right strategy to accelerate our collective customer-focused, fast-to-market design and manufacturing vision.”