RoundTable Healthcare Partners Announces Sale of Excelsior Medical Corporation to ICU Medical, Inc. and Medline Industries, Inc.
Transaction Marks the Seventh Portfolio Realization for RoundTable’s Fund I
LAKE FOREST, IL, October 6, 2015 – RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today the sale of Excelsior Medical Corporation (“Excelsior” or the “Company”) to ICU Medical, Inc. (“ICU Medical”). ICU Medical develops, manufactures and sells medical technologies used in infusion therapy, oncology, and critical care applications.
Excelsior, based in Neptune, NJ, is a leading provider of intraluminal catheter care and disinfection products. The Company’s goal is to help clinicians reduce the risk of infection, avoid medication errors and lower healthcare costs. Excelsior has developed and commercialized the innovative SwabCap® and SwabFlush™ products, and is a leader in pre-filled saline and heparin flush syringes. The Company also manufactures and sells pharmacy filling and syringe infusion pump and tubing systems. In connection with this transaction, ICU Medical has agreed to sell the pre-filled syringe and SwabFlush™ businesses to Medline Industries, Inc. (“Medline”). ICU Medical will retain the SwabCap® and pumps and tubing businesses.
“Excelsior’s management team has done an excellent job of building a fully-integrated platform in intraluminal catheter care,” said Lester B. Knight, Founding Partner of RoundTable and Chairman of Excelsior. “We believe that ICU Medical and Medline will be strong strategic partners for the Company, its employees, and customers going forward.”
Steve Thornton, CEO of Excelsior Medical Corporation, said, “RoundTable has been a tremendous partner for Excelsior since their initial acquisition of the Company in 2004. They have provided key access to customers and helped expand our product offerings. We look forward to partnering with ICU Medical and Medline to continue to achieve our growth objectives.”