N2 Biomedical, a leading provider of coating and surface treatment solutions to the medical device industry, announced today the majority recapitalization of the company by Ampersand Capital Partners.
As part of the transaction N2 also announced the appointment of Randall Sword, an executive with 30 years of experience in the medical device sector, as President and CEO. Mr. Sword has served in executive leadership positions at multiple leading medical device manufacturing companies, including as CEO of AdvancedCath.
Since its founding in 2013, N2 has processed millions of medical devices utilized in orthopedic, cardiovascular, and other procedures. The company’s proprietary processes are utilized in a variety of critical settings to improve material characteristics including lubricity, infection resistance, biocompatibility and tissue integration, and wear and corrosion resistance.
Mr. Sword commented, “I am very pleased to join a company with such unique technologies and a history of developing innovative coating and surface modification solutions for the medical device industry. With the support of an experienced and successful medical device investor in Ampersand, we look forward to further enhancing the high level of service and innovation customers have come to expect from N2.”
Trevor Wahlbrink, a Partner at Ampersand added, “N2 is an excellent fit with Ampersand’s investment strategy in the medical device industry, in which we target industry leaders with differentiated manufacturing technologies that address the critical needs of patients and global medical device OEMs. We are very excited to partner with Randall and the rest of the N2 management team to continue the company’s growth trajectory and support the expansion of N2’s service offering in this rapidly evolving industry.”
N2 co-founders Mark Little and Eric Tobin remain shareholders in the company. Mr. Little will remain on the Board of Directors, and Mr. Tobin will remain in his current position as the company’s Chief Operating Officer.
Source: Company Press Release.