M&A Deal Summary

Avanos Acquires Corpak MedSystems

On April 11, 2016, Avanos acquired medical products company Corpak MedSystems from Linden Capital Partners for 174M USD

Acquisition Highlights
  • This is Avanos’ 1st transaction in the Medical Products sector.
  • This is Avanos’ largest (disclosed) transaction.
  • This is Avanos’ 1st transaction in the United States.
  • This is Avanos’ 1st transaction in Illinois.

M&A Deal Summary
Date 2016-04-11
Target Corpak MedSystems
Sector Medical Products
Buyer(s) Avanos
Sellers(s) Linden Capital Partners
Deal Type Add-on Acquisition
Deal Value 174M USD
Advisor(s) Houlihan Lokey (Financial)
Kirkland & Ellis (Legal)

Target

Corpak MedSystems

Buffalo Grove, Illinois, United States
CORPAK MedSystems is a developer, manufacturer and marketer of innovative medical devices focused on the enteral feeding and bedside location technology markets. The Company has established the leading market position in premium branded, adult, long-term nasogastric (“NG”) feeding tubes and offers a broad portfolio of other high quality, branded enteral products, including gastrostomy feeding tubes, gastric relief devices and enteral feeding safety devices.

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Buyer(S) 1

Buyer

Avanos

Alpharetta, Georgia, United States
Category Company
Founded 2014
Sector Medical Products
Employees3,771
Revenue 673M USD (2023)
DESCRIPTION

Avanos is a medical technology company that provides healthcare solutions focused on preventing infection, eliminating pain and speeding recovery. Avanos was founded in 2014 and is based in Alpharetta, Georgia.

DEAL STATS #
Overall 1 of 4
Sector (Medical Products) 1 of 3
Type (Add-on Acquisition) 1 of 4
State (Illinois) 1 of 1
Country (United States) 1 of 3
Year (2016) 1 of 1
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-05 Game Ready

Concord, California, United States

CoolSystems, Inc. is a developer, manufacturer and marketer of the Game Ready® product line, used in the pain management and rehabilitation of patients recovering from orthopedic surgery or sports-related injuries. Its product line includes GRPro® 2.1 cold and compression therapy system; Med4 Elite™ multi-modality therapy unit; ATX® Wraps; and a variety of product accessories, all of which complement Halyard's existing Pain Management portfolio.

Buy $65M

Seller(S) 1

SELLER

Linden Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Linden LLC is a private equity firm that invests in businesses involved in the healthcare and life science sectors. However, the firm also executes any size private equity transaction between $10 million to $2 billion through the firm's alliance with Madison Dearborn Partners. Linden is not a venture capital investor. The firm specializes in investments in non-core businesses owned by large corporations, as well as traditional management buyouts of independent companies. Linden LLC was formed in 2004 and is based in Chicago, Illinois.

DEAL STATS #
Overall 13 of 27
Sector (Medical Products) 4 of 8
Type (Add-on Acquisition) 7 of 12
State (Illinois) 5 of 7
Country (United States) 13 of 27
Year (2016) 1 of 2
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-31 Chesapeake IRB

Columbia, Maryland, United States

Chesapeake Research Review, Inc. is a provider of independent IRB services for pharmaceutical companies, universities, individual researchers, academic medical centers, and community hospitals. Chesapeake Research Review was formed in 1993 and is based in Columbia, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-01 Hycor Biomedical

Garden Grove, California, United States

Hycor Biomedical, Inc. manufactures and markets high quality diagnostic products used in clinical laboratories throughout the world to test for a range of medical disorders. Hycor Biomedical was founded in 1981 and is based in Garden Grove, California.

Sell -
Mergr

Product

Company

Legal