Baird Capital announced that its US portfolio firm MedPlast Inc had purchased UK-based Orthoplastics Ltd. No financial terms were disclosed about the deal. The acquisition was made by MedPlast together with co-investors JZ Capital Partners Ltd and River Cities Capital Funds.
Arizona-based MedPlast provides custom plastic processing solutions that cater to global healthcare companies. The acquisition allowed MedPlast to increase its footprint in the orthopedic device market. It would also enable the company to grow its client base and expand globally. Orthoplastics, meanwhile, makes ultra high molecular weight polyethylene (UHMWPE) for clients engaged in making global orthopedic implants.
MedPast Chief Executive Officer Harold Faig said about the investment, "Implantable medical devices occupy a highly complex and regulated market space with high barriers to entry. The acquisition of Orthoplastics gives us a leading position in that market while enhancing our global capabilities."
Baird Capital's US Private Equity Group Partner Andrew Brickman said the transaction placed MedPlast in a position for future growth. "With continued improvements in global healthcare, MedPlast's robust product line addresses a need for effective orthopedic solutions for an increasingly aging population," he said.
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