Platinum Equity has acquired ASP Global, a US developer and distributor of consumable medical products for healthcare providers and distributors. Financial terms of the deal have not been disclosed.
Based in Atlanta, ASP uses its global sourcing network to provide products that are customised to meet the specific needs of health systems, labs, GPOs and distributors. ASP’s portfolio spans lab supplies, blood collection, wound and injury protection, critical care, staff apparel and rehab mobility.
“Healthcare providers are intensely focused on managing costs and increasing control of their supply chains,” said Platinum Equity Co-President Louis Samson in a press statement. “By providing direct sourcing solutions featuring customised, quality products, ASP has created an attractive value proposition. Based on our assessment, ASP’s business model has resonated with customers and has significant room for growth.”
ASP Global President and CEO Doug Shaver will continue to lead the company going forward.
Platinum Equity currently owns healthcare products distributor NDC, which serves a different part of the medical supplies market. ASP and NDC will operate as separate, standalone companies in Platinum Equity’s portfolio.
Solomon Partners and Latham and Watkins advised Platinum Equity.
