Arlington Capital Partners has purchased a majority stake in US-based medical devices maker Riverpoint Medical.
Based in Portland of Oregon, Riverpoint Medical is involved in designing, developing and manufacturing of medical devices focused on advanced bio-medical textile technologies.
The company’s advanced polymer technologies can be used in a range of applications, including wound closure, sports medicine, animal health and regenerative medicine.
The investment is said to be Riverpoint’s first deal out of its $1.7bn Fund V, which closed earlier this week.
According to Arlington, Riverpoint’s founders and senior management hold significant investments as part of the transaction and will continue to lead the company’s strategic growth initiatives in the future.
Arlington managing director Matt Altman said: “Arlington is thrilled to partner with the Riverpoint team to continue building a leading manufacturer of advanced textile-based medical devices.
“Riverpoint’s ability to develop innovative technologies coupled with its unique manufacturing processes provide a strong platform to accelerate growth in large addressable markets.”
Riverpoint produces wound closure products, including a range of bio-absorbable and non-absorbable sutures for the surgical and animal health markets.
The sports medicine product portfolio is comprised of implants and high strength fibre solutions, which use the firm’s ultra-high molecular weight polyethylene (UHMWPE) non-absorbable suture HS Fiber.
Riverpoint is also a major provider of cordless LED surgical headlights (MedLED) and brachytherapy product solutions for the oncology market.
Riverpoint CEO Pat Ferguson said: “We are extremely pleased to work together with Arlington to take Riverpoint to the next level of growth as Arlington shares our vision for expanding Riverpoint’s capabilities to better serve our customers and employees.
“Arlington’s ability to provide significant strategic and capital support is differentiated and will further enable Riverpoint to expand our offerings to our clients, increase our manufacturing capacity, and most importantly, help enhance surgical outcomes.”
Arlington Capital Partners is a private equity firm that primarily invests in growth industries, including healthcare, government services and technology, aerospace and defence, and business services and software.