PE-firm Avesi Partners invested in St. Louis-based New Age Medical, a medtech company serving the spinal surgery market.
Avesi partnered with New Age Medical founder and CEO Kevin Bly and the company’s existing management team. The partnership will support New Age Medical’s national expansion, entry into new specialties and M&A-driven growth, according to a Sept. 28 news release.
New Age Medical provides spinal implants, orthobiologics and related products and works with medical device manufacturers, hospitals, ASCs, surgeons and medical device sales representatives. Founded in 2012, the company said it works with 85+ OEMs, 100+ reps, 200+ hospitals/ASCs and 350+ surgeons nationwide.
Avesi Partners has offices in Stamford, Conn., and Richmond, Va., and has over $2.2 billion in assets under management. Its target platform companies typically have approximately $5 million to $30 million in EBITDA.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
