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Aspen Surgical Acquires Protek Medical Products

·3-min read

Acquisition Bolsters Aspen’s Portfolio of Patient & Staff Safety Products

Aspen Surgical Products, Inc. ("Aspen"), a leader in surgical disposable products, announced the acquisition of Protek Medical Products, Inc. ("Protek" or the "Company").

Based in Coralville, IA, Protek is a leading global manufacturer of single-use ultrasonic probe covers and needle guides used in tissue biopsies, fluid aspiration, and vascular access procedures as well as protective covers for medical instruments and equipment. The Company has demonstrated a consistent track record of driving recurring revenue growth and innovation, fueled by best-in-class R&D capabilities. Protek has become a supplier of choice for leading OEMs in the ultrasound equipment space.

The acquisition of Protek strengthens Aspen’s broad portfolio of medical and patient & staff safety products sold into hospital and surgery center markets. This includes Protek’s patented Pull-Up™ probe cover technology, which helps support efficiency in the clinical environment.

"Protek Medical has a long, successful history of providing effective, easy-to-use disposable products that help address cross-contamination issues in the clinical environment," said Jason Krieser, CEO of Aspen Surgical. "This line is clearly synergistic with our current manufacturing and commercial operations and it supports our mission to provide high quality single-use medical devices that improve safety and efficiency for the healthcare settings that we serve."

"Protek is very excited to team up with Aspen Surgical," said Protek CEO Rick Pruter. "This will not only broaden our customers’ access to consumable product offerings, but also expand our new product development opportunities. Aspen’s goals align directly with our vision of optimizing patient safety in the imaging market."

About Aspen Surgical Products, Inc.

Established in 1999, Aspen Surgical is a leading worldwide manufacturer of medical disposable products with an emphasis on efficiency and safety in the hospital and surgery center market. The company’s extensive portfolio includes Bard-Parker® blades and scalpels, Precept® personal protective equipment, surgical marking pens, orthopedic positioners, basic wound care and instrument care products. Aspen facilities in Caledonia, Michigan, Las Piedras, Puerto Rico, and Agua Prieta, Mexico offer vertically integrated, North American manufacturing capabilities including injection molding, sewing, ultrasonic welding, die cutting, automated assembly and packaging as well as blade stamping, grinding, and finishing. Aspen Surgical products are sold through a strong, integrated channel, which includes a corporate accounts team working synergistically with a field sales organization, along with a close distributor and kit-packer network. Recently acquired by Audax Private Equity, Aspen is poised for both organic growth and growth through acquisition. For more information, please visit: www.aspensurgical.com.

About Audax Private Equity

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 130 platforms and over 900 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, please visit the Audax Group website www.audaxgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201124005348/en/

Contacts

Mary Hannon, Vice President of Marketing and Communications
616-536-7520
mary.hannon@aspensurgical.com