Linden and DW Healthcare Agree to Sell Z-Medica to Teleflex
Chicago, IL (October 28, 2020) – Linden Capital Partners (“Linden”), a Chicago-based private equity firm focused exclusively on the healthcare sector, announced today an agreement to sell Z-Medica, LLC (“Z-Medica”) to Teleflex Incorporated (NYSE: TFX) (“Teleflex”). The acquisition is subject to customary closing conditions. Z-Medica, a portfolio company of Linden and DW Healthcare Partners, is a leading manufacturer and marketer of patented hemostatic products that enable healthcare providers, military personnel, and first responders to control bleeding and hemorrhaging.
“I want to thank Linden for their strong support and the resources they provided to help drive our growth and build Z-Medica’s presence in the hospital sector across the US and internationally,” said Eric Compton, President and CEO of Z-Medica. “We are incredibly proud of the organization we have built and look forward to our new partnership with Teleflex,” Compton added.
Ernest Waaser, Z-Medica Chairman and Linden Operating Partner added, “Eric and the entire Z-Medica leadership team have built a tremendous business in Z-Medica, and one that has continued to grow amidst a global pandemic.”
During Linden’s ownership, Z-Medica launched the QuikClot Control+® product line, focused on severe bleeding in trauma, growing to penetrate over 60% of all Level 1 and Level 2 trauma centers in the U.S.
“From the outset, our goal was to build a leading hospital-oriented hemostatic products company, implementing a comprehensive value creation program that emphasized infrastructure and human capital investment to drive organic growth,” said Piyush Shukla, Linden Partner.
Brian Miller, Linden Managing Partner, added “I’d like to thank the Board of Z-Medica, including Doug Schillinger, Steve Fanning, Vinod Thourani, and Chris Van Gorder, for their support during our investment. Z-Medica is our third successful exit since the onset of the COVID-19 pandemic, highlighting the continued resiliency of our portfolio in these challenging times.”
Truist Securities is acting as financial advisor to Z-Medica and Kirkland & Ellis LLP is serving as legal counsel. Guggenheim Securities is acting as financial advisor to Teleflex and Holland & Knight LLP is serving as legal counsel.
About Z-Medica, LLC
Z-Medica, LLC, a Linden Capital Partners portfolio company, is a medical device manufacturer based in Wallingford, CT that is focused on the development, sale and marketing of innovative hemorrhage control products. For over a decade, Z-Medica has helped hospitals, militaries, law enforcement, first responders and consumers around the globe save lives and improve medical outcomes with their QuikClot® brand of products which are manufactured in the United States. For more information, visit http://www.QuikClot.com and http://www.Z-Medica.com.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested more than $2 billion in healthcare companies and has raised nearly $3 billion of commitments, augmented by capital provided by the firm’s limited partners for larger transactions. For more information, please visit www.lindenllc.com.
About DW Healthcare Partners
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $1.43 billion in aggregate capital commitments and invests in leading healthcare companies with proven management teams. DW Healthcare Partners is led by seasoned healthcare executives with more than 120 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid-stage companies realize their growth potential. For more information, please visit: www.dwhp.com.
About Teleflex Incorporated
Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose-driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgical, urology and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit www.teleflex.com.