RoundTable Healthcare Partners Affiliate Vanguard Medical Concepts, Inc. acquires Medical Instruments Technology, Inc.
Device reprocessor broadens product portfolio, adds leading orthopedic sharpening technology
Lake Forest, Ill., June 20, 2002 —RoundTable Healthcare Partners (RoundTable) announced today that Vanguard Medical Concepts, Inc. (Vanguard) has acquired the assets of Medical Instruments Technology, Inc. (MIT), a Utah-based medical device reprocessor. Vanguard is the nation’s leading disposable medical device reprocessor and a portfolio company of RoundTable. The acquisition adds cardiac retractors and stabilizers, trocars, curved arthroscopic shavers and coated orthopedic blades to Vanguard’s reprocessing service portfolio.
“MIT capabilities are unique and complement our existing service platforms,” said Charles Masek, Vanguard founder, president and CEO. This investment facilitated by RoundTable gives us leading orthopedic sharpening technology capable of reprocessing to sharpness even greater than the original device. The acquisition allows us to significantly advance our customers’ reprocessing initiatives resulting in even greater cost savings opportunities for them.”
“Vanguard’s industry leadership position is distinguished further with the acquisition of MIT,” said Joseph Damico, a Founding Partner of RoundTable and Chairman of Vanguard. “MIT is a complementary add-on acquisition for our exciting platform in medical device reprocessing and is just one of the many investments we are making in Vanguard.”
Terms of the transaction were not disclosed.
RoundTable Healthcare Partners, Lake Forest, Ill, is an operating-oriented private equity firm focused on the healthcare industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing diversified healthcare companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. More information about RoundTable Healthcare Partners can be found atwww.roundtablehp.com.
Vanguard Medical Concepts, Inc. (www.safe-reuse.com) is the nation’s largest medical device reprocessor, providing a broad range of reprocessing services for more than 600 health care facilities nationwide. Since 1991, it has reprocessed more than 7 million devices, from EP catheters and orthopedic burrs, bits and blades to suture packs and DVT sleeves. Vanguard leads the industry in the science and technology of reprocessing, carrying a certification of ISO 9001 with specific design controls for medical device reprocessing. Its headquarters are in Lakeland, Fla.