A&E Medical Corp., backed by Los Angeles private equity firm Vance Street Capital LLC, has reached a deal with RTI Surgical Inc. to acquire its cardiothoracic closure business. Lexington Partners, Neuberger Berman Private Equity funds, RCP Advisors and Madison Capital Funding LLC all co-invested equity alongside Vance Street Capital in support of the transasction. This deal serves as A&E Medical’s second add-on acquisition.
Demand for more personalized treatment options, an increasing aging population, and a constant change in healthcare technology has kept medical device manufacturers busy. Recent deals include: Arlington Capital-backed Avalign Technologies’ acquisition of medical device distributors Thortex and Millennium Surgical.; Boston Scientific’s (NYSE: BSX) deal to buy heart valve replacement maker Symetis; Teleflex Inc.’s purchase of Vascular Solutions Inc. for $1 billion; and Medtronic plc’s (NYSE: MDT) acquiring of HeartWare International Inc. for nearly $1.1 billion. GTCR also launched a platform company to fund medical device deals.