Ci Medical Technologies has been sold to Technimark
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Altaris Capital Partners, LLC (“Altaris”) has sold Ci Medical Technologies, Inc. (“Ci Medical” or the “Company”) to Technimark LLC (“Technimark”), a Pritzker Group Private Capital company. Terms of the transaction were not disclosed.
Headquartered in Latrobe, Pennsylvania, Ci Medical is a manufacturer of injection-molded plastic components for precision medical devices. The Company provides its blue-chip OEM customers with design, prototyping, assembly, packaging and distribution services through its manufacturing facilities in North America and Europe. Altaris acquired Ci Medical in 2006 and, during its investment period, supported the Company as it expanded its capabilities, service offerings and geographic footprint to better serve its customers worldwide.
Technimark’s acquisition of Ci Medical will expand the manufacturing capabilities and global footprint for customers of both companies. The combined company will leverage Technimark’s culture of product innovation and technical excellence with Ci Medical’s scientific and healthcare manufacturing expertise. The combined company will have 14 facilities throughout the world including in the U.S., Germany, Mexico, China, Puerto Rico and the U.K.
Lincoln acted as the exclusive investment banking representative for Altaris and Ci Medical, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
About Ci Medical Technologies, Inc.
Ci Medical is a full-service contract manufacturer of injection-molded components used in medical devices and pharmaceutical products. The Company’s production facilities are located in Latrobe, Pennsylvania; El Paso, Texas; Ponce, Puerto Rico; and Durham, U.K. ; and its third-party logistics facility is in Ciudad Juarez, Mexico. Ci Medical’s operations meet all applicable ANSI and ISO standards and FDA regulations, and reflect the best practices of Lean Six Sigma management. Ci Medical was founded in 1971 and is headquartered in Latrobe, Pennsylvania. For more information about Ci Medical, please visit www.cimedtech.com.
About Altaris Capital Partners, LLC
Altaris Capital Partners, LLC is an investment firm focused exclusively on the healthcare industry. Managing $1.3 billion of equity capital, Altaris invests in businesses that meet clearly defined healthcare needs and leverages its extensive industry knowledge and relationships to accelerate growth and value appreciation. Altaris is based in New York, New York. For more information about Altaris, please visit www.altariscap.com.
About Technimark LLC
Technimark, a Pritzker Group Private Capital company, is a leading global provider of custom rigid plastic packaging and components. For over 30 years, from its headquarters in Asheboro, North Carolina, and from facilities on three continents, Technimark has provided customers with customized, end-to-end solutions based on technology and innovation. Technimark delivers high-quality products on a global basis for consumer packaged goods, healthcare and specialty industrial customers. For more information about Technimark, please visit www.technimark.com.
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