November 20, 2018
WILTON, Conn.–(BUSINESS WIRE)–Altus Capital Partners, Inc. (“Altus”), an investment firm focused on the North American manufacturing sector, today announced it has acquired ChoiceSpine, LP, a leading designer, manufacturer, and marketer of specialized spinal implants, instrumentation and biologics for the surgical treatment of complex spine disorders. Financial terms of the transaction were not disclosed.
Based in Knoxville, TN and founded in 2006, ChoiceSpine, LP and Knox Spine, LLC (collectively, the Company) collaborates with physicians to develop new products which incorporate current medical technology with customized patient solutions. ChoiceSpine™ products include minimally invasive, cervical, thoracolumbar, interbody, lateral, and biologics kits and implants that increase procedural efficiency and efficacy.
“We recognize the need in the medical technology space for proven spinal products that can enhance the quality of life for spinal patients,” said Altus Co-Founder and Senior Partner Gregory L. Greenberg. “ChoiceSpine, a global medical device corporation specializing in innovative solutions for both spinal fusion hardware and biologics, demonstrates a track record of proven innovation, strong sales growth, increased distribution and the necessity of their products in the marketplace.”
Management will continue to invest in the expansion of the business. Altus Capital Partner Heidi Goldstein added, “We look forward to working with Founders Rick Henson and Marty Altshuler, who continue to invest alongside us in the Company, in further capitalizing on the depth of their design and engineering capabilities, sales growth and momentum.”
“We have built a deep bench of talent that has led the company with an increased focus on product design and engineering which benefit so many patients experiencing spinal injuries,” said Rick Henson. “We look forward to working with Altus in further developing our offerings as well as expanding into new product verticals to continue to grow the company and provide patient solutions for the treatment of spinal disorders,” added Marty Altshuler.
This is Altus’ third acquisition in less than two years and its second in the medical technology space. The firm successfully completed the tender offer for all of the outstanding shares of common stock of MGC Diagnostics Corporation (“MGC”), a global medical technology company dedicated to cardiorespiratory health solutions in December 2017, and the acquisition of Max Environmental Technologies, Inc., an integrated environmental solutions company, in February, 2017.
ChoiceSpine™ is a privately-held spinal device company located in Knoxville, TN. The company prides itself on providing excellent products and exceptional service to meet the needs of their customers. ChoiceSpine offers a breadth of innovative and surgeon-focused systems that are designed to be safe, efficient, and easy-to-use. By working closely with physicians and maintaining a service-focused distribution, ChoiceSpine will continue to bring technically-superior spinal products to market.
About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and seek to partner with the management teams of our operating companies to achieve growth. With offices in Wilton, CT and Lincolnshire, IL, Altus Capital Partners has completed 18 platform investments and numerous add on acquisitions since 2003. For more information, please visit www.altuscapitalpartners.com/.