DW Healthcare Partners Announces New Investment in Z-Medica, LLC by Linden Capital Partners
Park City, UT (October 3, 2017) – DW Healthcare Partners (“DWHP”), a healthcare focused private equity firm announced today a majority investment in its portfolio company, Z-Medica, LLC (“Z-Medica” or the “Company”) by Linden Capital Partners (“Linden”), a Chicago-based healthcare-private equity firm. Headquartered in Wallingford, Connecticut, Z-Medica is a leading manufacturer and marketer of patented, cost-effective hemostatic products that enable healthcare providers, military personnel, and first responders worldwide to immediately control bleeding and hemorrhage. Founded in 2002, the Company’s core product family, branded QuikClot®, comprise a series of active hemostatic products, indicated for external use, that accelerate the body’s natural clotting ability, leading to fast and safe hemostasis. The Company recently received FDA “de-novo” approval for a new range of products under the brand QuikClot® Control+ (“Control+”). Control+ is indicated for internal use to control severe bleeding in the organ space, including for various trauma, wound, and surgical applications. Within the US, Z-Medica currently sells into the hospital channel, all branches of the military, and to various law enforcement, emergency services, and public institutions. Outside of the US, Z-Medica’s products are sold in over 70 countries worldwide.
“We are very excited to enter into this strategic partnership with Linden. Together with our current shareholders, DWHP, they collectively bring deep healthcare expertise, insights and networks, which we look forward to leveraging as we launch our new, innovative and cost effective internal product, Control+, and continue to build upon our strong growth of the wider QuikClot product family,” said Steve Fanning, President and CEO of Z-Medica.
“Steve, the wider management team, and DWHP have built an outstanding hemostatic products business in Z-Medica. We look forward to supporting and partnering with the team to continue the strong growth trajectory of the business both domestically and internationally,” said Ernest Waaser, Operating Partner at Linden, and incoming Chairman of Z-Medica.
Mr. Waaser brings a wealth of experience, with prior roles as the CEO of Systagenix Wound Management, President of Teleflex Medical, CEO of Hill Rom, and most recently as CEO of NuSil Technology. Ron Labrum, Brian Miller and Piyush Shukla from Linden have also joined the Board of Z-Medica, alongside current board members Doug Schillinger from DWHP and Steve Fanning.
Kirkland & Ellis LLP and Paul Hastings LLP served as legal advisors to Linden and DWHP. SunTrust Robinson Humphrey served as advisors to Z-Medica. Twin Brook Capital Partners and Audax Private Debt provided debt financing for the transaction.
Z-Medica, LLC is a privately-held medical device manufacturer based in Wallingford, CT that is focused on the development, sale, and marketing of innovative hemorrhage control products for healthcare providers, military personnel, the law enforcement community, first responders, and consumers around the globe. For over a decade, Z-Medica has helped save lives and improve medical outcomes with a growing portfolio of QuikClot® hemostatic products that includes the recently FDA-cleared Control+™, 4×4 Hemostatic Dressing, Radial®, Interventional®, Combat Gauze®, Belt Trauma Kit®, and Bleeding Control Bag®. ABOUT LINDEN CAPITAL PARTNERS Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life sciences industries. Linden’s strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare.
For more information, please visit: http://www.lindenllc.com/
ABOUT DW HEALTHCARE PARTNERS
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $800 million in committed capital and invests in profitable healthcare companies with proven management teams. DW Healthcare Partners is led by seasoned healthcare executives with more than 110 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid-to-late-stage companies realize their potential for growth.