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Avalign Technologies Acquired by Linden Capital Partners

Avalign Technologies, a contract manufacturer of precision implants, instruments, cutting tools, specialty instruments and cases/trays, was acquired by Linden Capital Partners, a healthcare private equity firm.

Terms were not disclosed.

“We are proud of the business we have built at Avalign and are excited to partner with Linden through our next phase of growth,” said Forrest Whittaker, Avalign CEO, in a press release. “We chose Linden because of their deep healthcare and contract manufacturing expertise, and are confident they have the experience and resources to support the company’s growth strategy.”

Kirkland & Ellis LLP served as legal advisor to Linden. William Blair & Company and Harris Williams served as financial advisors to Avalign.

Avalign was previously acquired in July 2015 by Arlington Capital from RoundTable Healthcare Partners.

“Since our initial investment, Avalign has nearly doubled in size as strong organic growth has been bolstered by several strategic acquisitions,” Malcolm Little, Principal at Arlington Capital, said in a press release. “We are proud to have supported the Company through this transformation, adding capacity and bringing new technologies into Avalign’s portfolio in partnership with the outstanding Avalign management team.”

Avalign, one of the ten largest orthopaedic contract manufacturers by our estimates, offers capabilities from several acquired entities: Thortex, a company specializing in metal injection molding, precision manufacturing and porous coating solutions for titanium and cobalt-chrome implants; Millennium, a supplier of specialty surgical instruments for orthopaedics, neurosurgery and ophthalmics; Instrumed International, a German instrument manufacturer; Advantis Medical, a sterilization case and tray manufacturer; Nemcomed, manufacturer of implants and instruments; and NG Instruments, specialist in manufacturing drills, taps and reamers. 

Sources: Linden Capital Partners; Arlington Capital Partners