Linden and DW Healthcare Partners Complete Acquisition of Edge Systems
Chicago, IL (December 1, 2016) – Linden Capital Partners (“Linden”) and DW Healthcare Partners (“DWHP”), both healthcare-focused private equity firms, announced today the joint acquisition of Edge Systems (“Edge” or the “Company”). Headquartered in Signal Hill, California, Edge is a leading manufacturer and marketer of non-invasive equipment and consumables used in aesthetic skin health treatments. Edge’s leading product is the HydraFacial™ line of facial skin rejuvenation devices, which provide a non-invasive, multistep treatment in one sitting that delivers results without downtime or irritation. Edge has a current installed base of over 7,000 systems placed with dermatologists, plastic surgeons, and medical spas across 75 countries.
As part of an aesthetics sector effort, Linden and DWHP teamed up with Clint Carnell and Steve Fanning, who will be named CEO and Chairman of Edge, respectively. Mr. Carnell is a 25-year medical device and aesthetics veteran who previously held leadership positions at Solta Medical, Covidien and Bausch & Lomb. Mr. Fanning has an extensive background in healthcare, aesthetics, and consumer pharmaceuticals. Currently CEO of Z-Medica, Mr. Fanning has also served as CEO of Solta Medical, CEO of Ocular Sciences, and held various senior leadership positions at Johnson & Johnson. Both executives were instrumental in canvassing the aesthetic skin health sector and leading diligence of Edge Systems.
“I am excited to partner with Linden and DWHP, two leading healthcare-focused private equity investors,” said Mr. Carnell.
“Edge is recognized as a pioneer in non-invasive aesthetic treatments, and we are excited by the continued growth potential of this business,” said Mr. Fanning. “With a unique technology and strong track record of customer and end-user satisfaction, Edge is well-positioned to address the growing demand for non-invasive facial rejuvenation treatments.”
Other key advisors joining the Edge Systems Board of Directors include Howard Kelly, former CEO of Alma Lasers, and Glenn Novotny, the previous Chairman of Edge Systems who oversaw its strong growth to date. Edge will also receive the continued support of Bill Cohen and Roger Ignon, who co-founded Edge and drove the Company’s success to date.
“We are excited to partner with Clint, Steve, Howard and Glenn alongside the outstanding team at Edge,” said Brian Miller, Managing Partner at Linden, and Doug Schillinger, Managing Director at DWHP.
Kirkland & Ellis LLP and Paul Hastings LLP served as legal advisors to Linden and DWHP. Piper Jaffray & Co., BMO Capital Markets, and Morrison & Foerster LLP served as advisors to Edge and its previous owners, Main Post Partners and Weston Presidio. Silver Point Capital and Monroe Capital provided debt financing for the transaction.
About Edge Systems
Headquartered in Signal Hill, California, Edge Systems designs and markets patented equipment and consumable products for non-invasive aesthetic skin treatments. Combining the most advanced device and formula technologies available, Edge is an industry leader, providing constantly evolving, first-to-market innovations to medical professionals and patients. Edge holds over 17 U.S. and worldwide patents – with an additional 14 pending – and maintains a growing installed base of over 7,000 systems across 75 countries. For more information, please visit http://www.edgeforlife.com.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life sciences industries. Linden’s strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. For more information, please visit www.lindenllc.com.
About DW Healthcare Partners
DWHP is a healthcare focused private equity firm that partners with founders to help them achieve liquidity and build a larger business. Its partners have owned and operated healthcare businesses, which allows DWHP to leverage its unique blend of healthcare operating, clinical, and investing experience to assist companies in accelerating their growth. DWHP invests in companies in the United States and Canada out of its two offices in Park City, Utah and Toronto, Ontario. For more information, please visit http://dwhp.com.