SOURCE: Greenaway Investment Company LLC

August 12, 2005 22:00 ET

Investor Group Finalizes a Medical Device Industry Acquisition

NEW YORK, NY -- (MARKET WIRE) -- August 12, 2005 -- A group of private equity firms that includes Champlain Capital Partners, Greenaway Investment Company (GIC), Imperial Capital, and MVC Capital completed the acquisition and merger of two medical device companies specializing in suction and oxygen therapy products: privately held Squire Cogswell/Aeros Instruments Inc. and Ohmeda Medical, a unit of General Electric Company. The two businesses were merged into a new company called Ohio Medical Corporation.

The investment was originated by GIC, a New York-based private equity firm, and was led by MVC Capital, a New York Stock Exchange-traded business development fund that will have majority control of Ohio Medical. The total amount of financing raised for this transaction exceeded $90 million, including a $66 million term loan arranged via Imperial Capital, an investment bank. The exact terms of the transaction were not disclosed.

Ohio Medical Corporation sells its products to hospitals and medical practitioners in over 100 countries under such brands as Ohmeda, Healthcair, and Aeros. The Company is the largest player in the market for vacuum and oxygen therapy, offering such products as vacuum regulators, flowmeters, fittings and ancillary products. The investor group will support the Company in new product development and growth. For additional information, please contact Sanne Enermark at (212) 380-1271 or visit www.squirecogswell.com.

Contact Information

  • Contact:
    Sanne Enermark
    (212) 380-1271