Five things to know:
1. Post-transaction, Altor Fund III will maintain significant minority holding in Orchid Orthopedic, a Holt, Mich.-based orthopedic implant manufacturer. The company’s products include hip, knee, trauma, extremity and spinal implants.
2. Orchid has 12 manufacturing sites in the U.S. and across the world, serving a global customer base. It partners with medical device original equipment manufacturers and offers product and procedure design solutions.
3. The financial details of the transaction were not disclosed. The transaction is still subject to customary regulatory approvals.
4. Nordic Capital has invested in 27 healthcare platforms across Europe and North America since 1989. “We are impressed by Orchid’s strong management team and attractive position in the growing orthopedic implant market, and look forward to supporting the company through its next phase of development,” said Jonas Agnblad, partner and co-head of healthcare at the advisor to the Nordic Capital Funds.
5. Altor III had been the majority owner of Orchid for the past eight years. During that time, Orchid developed into a global company.
More articles on orthopedics:
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