Altus Capital Partners has sold ChoiceSpine to Zavation, a portfolio company of Gemspring

ChoiceSpine

ChoiceSpine Holdings, Inc. (ChoiceSpine) is a privately held spinal implant company located in Knoxville, Tennessee. Founded in 2006, ChoiceSpine designs and commercializes a broad portfolio of innovative, surgeon-focused spinal implant systems intended to support optimal clinical outcomes. Guided by its philosophy of “Spine the Right Way,” the company emphasizes collaborative product development, strong distributor partnerships and responsive customer support. For more information, visit www.choicespine.com.

The Deal

Zavation Medical Products, LLC (Zavation), a portfolio company of Gemspring Capital, is a designer and manufacturer of spinal implants, interventional spine products and biologics, announced it has acquired Choice Spine Holdings, Inc.. ChoiceSpine has established a strong reputation for developing a comprehensive portfolio of spinal implant and instrumentation systems spanning cervical, thoracolumbar and interbody applications. The company is known for its commitment to user-driven design, responsive customer service model and robust national distributor network.

The combination expands Zavation’s product portfolio and commercial reach across both inpatient and outpatient settings while leveraging its vertically integrated manufacturing platform to accelerate innovation and speed to market. ChoiceSpine will maintain its brand and operations as the two companies work toward a unified organization.

Our Perspective

Moyo Mamora, Lincoln International Director, commented, “We are thrilled to have advised ChoiceSpine and Altus through this successful transaction. By leveraging our deep sector insights, we were able to facilitate a partnership that honors ChoiceSpine’s legacy of innovation while maximizing value for its stakeholders. It is a testament to our team’s specialized execution capabilities in the MedTech space.”

Roderick O’Neill, Lincoln International Managing Director & Co-Head of Healthcare, commented, “The closing of this transaction marks an important strategic milestone for both organizations. The combination brings together complementary product portfolios that broadens Zavation’s offering and strengthens its ability to serve surgeons and healthcare providers. With increased scale and resources, the combined platform is well-positioned for continued growth while maintaining the standards of quality, innovation and service expected by its distributors and surgeon partners.”

Zavation

Based in Flowood, Mississippi, Zavation designs, engineers and manufactures a portfolio of spinal hardware and biologics covering key areas including cervical, thoracolumbar, interbody fusion, interventional spine and minimally invasive surgery. Founded in 2012, Zavation has commercialized over 25 product families since inception, experienced exceptional growth and created a national network of numerous distributors across the United States. The company operates two vertically integrated facilities located in Flowood, Mississippi, and St. Louis, Missouri.

Altus Capital Partners

Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses that employ technology and automation. Its exclusive focus on manufacturing gives the firm a unique understanding of the opportunities and challenges companies in the sector face. Altus Capital Partners utilizes a patient, thoughtful approach and partners with the management teams of its operating companies to achieve growth. For more information, visit altuscapitalpartners.com.

Gemspring Capital

Gemspring Capital, a Westport, Connecticut-based private equity firm with $5.1 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $2.0 billion in revenue and are in the business services, consumer services, financial and insurance services, healthcare, industrial, software and tech-enabled services sectors. For more information, visit www.gemspring.com.

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