EDC is a precision engineering and manufacturer of replacement and repair parts suitable for the repairing of flexible endoscopy equipment
Insertion tip of endoscope. (Credit: melvil/Wikipedia)
Healthcare Components Group (HCG), a portfolio company of RoundTable Healthcare Partners, has acquired Endoscopy Development Company (EDC) for an undisclosed sum.
Established in 2003, EDC is a precision engineering and manufacturer of replacement and repair parts suitable for the repairing of flexible endoscopy equipment.
Based in Maryland Heights of Missouri, EDC employs around 100 people across the globe.
With a distribution in more than 45 countries, the company provides over 1,200 components servicing a range of endoscope makes and models.
HCG CEO Larry Hicks said: “This acquisition significantly enhances our offering of components used in the development and repair of endoscopes to our customers while simultaneously providing an enhanced opportunity for career growth to our employees in a larger, more robust business.”
The acquisition of EDC will enable HCG to become a one-stop shop for all endoscopy components, as it brings together two established players in both the optical and flexible categories.
EDC current president Marcus Rosenberg will be appointed as HCG America’s president, while EDC’s co-founder Jeffrey Lay will continue as an investor in the business and serve on the board of HCG.
HCG chairman and RoundTable managing partner Tom Kapfer said: “Jeff and Marcus have built a tremendous business that is the market leader in parts for flexible endoscopes. We are very pleased to bring together two best in class endoscope component manufacturers.”
HCG stated that it has financed the acquisition using a combination of incremental senior debt and an incremental equity investment from RoundTable’s Equity Fund V.
Gibson Dunn & Crutcher served as legal advisor to RoundTable in connection with the transaction, while Lincoln International and Bryan Cave Leighton Paisner served as advisors to EDC.