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Orchid Orthopedic Solutions Acquired by Private Equity Firm Nordic Capital

Nordic Capital Fund IX agreed to acquire a majority holding in Orchid Orthopedic Solutions from Altor Fund III, which will retain a significant minority holding. Orchid’s current management team will remain in place.

Financial terms were not disclosed. 

Orchid provides contract design and manufacturing services from concept through launch, serving its global customer base from 12 manufacturing sites in the U.S., U.K., Switzerland and China. Markets include joint reconstruction, spine, trauma, sports medicine, extremities, dental and cardiovascular.

The company has undertaken a vast number of M&A transactions since its formation in 2005, increasing its capabilities and reach. Altor purchased the company, which was previously backed by Churchill Equity Partners, in 2011.

"We are very proud of our achievements during Altor’s tenure as our majority owner and are very excited to continue this journey with Nordic Capital as our new majority partner," said Orchid CEO Jerry Jurkiewicz. "We will continue to build out our company with the intent of remaining an orthopaedic pure-play, with a focus on our wheelhouse–implants and single-use instruments, which includes cutting tools.

"We are always interested in continuing to expand our platform globally, perhaps, increasing our presence in Europe."

ORTHOWORLD estimates place Orchid's annual orthopaedic-related revenue in the range of $315MM to $325MM, holding 6% of an over $5BB global orthopaedic contract manufacturing market. 

“We are impressed by Orchid’s strong management team and attractive position in the growing orthopaedic implant market, and look forward to supporting the company through its next phase of development," said Jonas Agnblad, Partner and Co-Head of Healthcare for Nordic Capital Funds.

Source: Orchid Orthopedic Solutions