Private equity firm TA Associates has completed a majority growth investment in Elos Medtech AB (NASDAQ STOCKHOLM: ELOS B), an innovative full-service contract development and manufacturing organisation (CDMO) in the global medical device market.
Founded in 1923, Elos Medtech is headquartered in Gothenburg, Sweden with operations being conducted at facilities in Sweden, Denmark, China and the US. As a global solutions partner offering complete performance and vertical integration to leading medical device companies worldwide, Elos Medtech serves the dental, orthopaedic and life science markets. In long-term partnership with their customers, Elos Medtech provides sustainable and innovative products and supply solutions for the global medical device and life science market.
“We have followed Elos Medtech for several years and have been highly impressed by the company and its management team,” says Lovisa Lander, a Principal at TA. “Given its well-earned reputation for quality and reliability, we believe Elos Medtech is well-positioned to further grow market share as a partner of choice for leading medical technology and life science companies around the world. With our knowledge, network and financial resources, we believe that TA can support the investments that will be required to help the company continue its growth journey. We look forward to working with the Elos Medtech team to solidify its position as a global, high-quality development and manufacturing partner with a MedTech focus.”
“I am very pleased to welcome TA as the majority shareholder of Elos Medtech,” says Jan Wahlström, CEO of Elos Medtech. “Having completed more than 70 investments in healthcare businesses, including many in the medical device field, TA has the deep experience, network and global resources that we believe will prove highly beneficial at this stage of our growth. I thank all our shareholders as well as our skilled and motivated employees for their support of Elos Medtech and look forward to a close partnership with TA as we continue to further build a strong global group.”
“With a focus on innovation and precision, Elos Medtech has proven highly adept at meeting the varied demands and requirements of its target markets with turnkey solutions that add substantial value,” said Birker Bahnsen, a Managing Director at TA. “In line with the unanimous recommendation by the company’s board of directors, we believe that TA is well placed to support the investments required in the next phase of Elos Medtech’s journey. As long-term investors, we welcome the opportunity to help the company achieve its strategic goals and reach its full potential.”
Roschier served as legal counsel to TA.