Linden Invests in Z-Medica, LLC
Chicago, IL (October 2, 2017) – Linden Capital Partners (“Linden”), a Chicago-based healthcare- private equity firm, announced today a majority investment in Z-Medica, LLC (“Z-Medica” or the “Company”) alongside the current shareholders, DW Healthcare Partners (“DWHP”) and management. Headquartered in Wallingford, Connecticut, Z-Medica is a leading manufacturer and marketer of patented, cost-effective hemostatic products that enable healthcare providers, military personnel, and first responders worldwide to immediately control bleeding and hemorrhaging. Founded in 2002, the Company’s core product family, QuikClot®, is comprised of a series of active hemostatic products, indicated for external use, that accelerate the body’s natural clotting ability. In addition, the Company recently received FDA “de-novo” approval for a new range of products under the brand QuikClot® Control+ (“Control+”), indicated for internal use. Z-Medica currently sells into the hospital channel, all branches of the U.S. military, and to various law enforcement, emergency services, and public institutions. Z-Medica’s products are sold in over 70 countries worldwide.
“We are very excited to enter into this strategic partnership with Linden. Together with our current shareholders, DWHP, they collectively bring deep healthcare expertise, insights and networks, which we look forward to leveraging as we launch our new, innovative and cost effective internal product, Control+, and continue to build upon our strong growth of the wider QuikClot product family,” said Steve Fanning, President and CEO of Z-Medica.
“Steve, the management team, and DWHP have built an outstanding hemostatic products business in Z-Medica. We look forward to supporting and partnering with the team to continue the strong growth trajectory of the business both domestically and internationally,” said Ernest Waaser, Operating Partner at Linden, and incoming Chairman of Z-Medica. Mr. Waaser brings a wealth of experience, with prior roles as the CEO of Systagenix Wound Management, President of Teleflex Medical, CEO of Hill Rom, and most recently as CEO of NuSil Technology. Ron Labrum, Brian Miller and Piyush Shukla from Linden have also joined the Board of Z-Medica, alongside current board members Doug Schillinger from DWHP and Steve Fanning.
Kirkland & Ellis LLP and Paul Hastings LLP served as legal advisors to Linden and DWHP. SunTrust Robinson Humphrey served as the exclusive financial advisor to Z-Medica. Twin Brook Capital Partners and Audax Private Debt provided debt financing for the transaction.
Z-Medica, LLC is a privately-held medical device manufacturer based in Wallingford, CT that is focused on the development, sale, and marketing of innovative hemorrhage control products for healthcare providers, military personnel, the law enforcement community, first responders, and consumers around the globe. For over a decade, Z-Medica has helped save lives and improve medical outcomes with a growing portfolio of QuikClot® hemostatic products that includes the recently FDA-cleared Control+™, 4×4 Hemostatic Dressing, Radial®, Interventional®, Combat Gauze®, Belt Trauma Kit®, and Bleeding Control Bag®. For more information, please visit www.Z-Medica.com.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare industry. Linden’s strategy is based upon three elements: i) healthcare 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 www.dwhp.com.