Shore Capital Partners has closed a deal for Summit Medical Inc. for an undisclosed amount.
Summit Medical, headquartered in St. Paul, Minnesota, manufactures medical devices. The company makes Instru-Safe products, which are used for sanitation, plus ear, nose and throat and other surgical products.
Shore plans to implement an acquisition-based growth strategy.
This is the Chicago private equity firm’s second investment from its inaugural fund, which closed with $112.5 million in commitments in June. The firm focuses solely on microcap health care investments. In November, the firm recapitalized and combined three animal clinics to form Southern Veterinary Partners.
Other recent medical device acquisitions have come from 3M (NYSE: MMM), which agreed to buy Ivera Medical Corp. earlier in February, and Leica Biosystems, which agreed to acquire Devicor Medical Products in October.