Apposite Capital, a private equity firm with an exclusive focus on healthcare, has teamed with management to acquire OrthoD Group from The Riverside Company.
OrthoD is a specialist manufacturer and distributor of medical products and implants for joint reconstruction, sport medicine, surgical products and infection control applications. Financial details are not disclosed.
Apposite Capital sees significant potential in supporting management in further building OrthoD’s export channels and in further commercialising OrthoD’s sport medicine products. In conjunction with its investment, Apposite has introduced Oern Stuge, M.D., as Non-Executive Chairman. Oern brings over 25 years’ experience in the medtech industry having held senior executive positions at Medtronic where he was a member of the Executive Committee & Operating Committee, and Abbott Laboratories.
Created in 1984, OrthoD is a UK based provider of specialist solutions for orthopaedic surgery. The company’s products range from bone cement management systems, wound drainage, fixation devices for knee and shoulder surgery and other specialist devices. The company has distribution channels in over 40 countries worldwide and employs over 100 people.
Rory Pope, Partner, Apposite Capital who is also joining the board of OrthoD, said: “Medical devices companies are a key focus to Apposite and a sector where we have had excellent outcomes. We are delighted to support this MBO; OrthoD is a solid business which has built a strong reputation with its customers and we look forward supporting Daniel and the rest of the team to accelerate their growth ambitions for the business.”
Daniel Bee, CEO of OrthoD added: “We look forward to working with Apposite as we move to our next step in the company’s development. Their healthcare expertise will be of great value as we continue to focus on our core orthopaedic activities and seek to launch new sport medicine products and strengthen our distribution channels globally.”