Ampersand Portfolio Company Sterling Medical Devices Recapitalizes RBC Medical Innovations, Merges Entities
Results in Electromechanical Health care Unit Market Leader with Broad Style and design, Advancement, Regulatory and Production Abilities
Field Veteran David Montecalvo Appointed CEO of Merged Corporation, Productive Promptly
MOONACHIE, N.J. and LENEXA, Kan., Feb. 8, 2023 /PRNewswire/ — Sterling Medical Equipment (“Sterling”), a foremost company of structure, development and regulatory solutions to the clinical product field, introduced these days its recapitalization and simultaneous merger with RBC Health care Innovations (“RBC”). RBC delivers extra style and design and enhancement potential, which includes skills in power-primarily based electromechanical devices, as effectively as production abilities to the mixed organization.
As aspect of the transaction, Med Tech business government David Montecalvo has been appointed Chief Government Officer of the mixed enterprise. Montecalvo joins the administration team with above 35 several years of knowledge in the Med Tech marketplace, which include executive level positions at Medtronic and, most a short while ago, West Pharmaceutical Services. Sterling Founder Dan Sterling will continue being on the senior leadership staff and a Board Director. RBC Founder Carl Mayer has joined the Board of Directors.
RBC Founder Carl Mayer commented, “Ampersand and Sterling are a great strategic in good shape for RBC’s upcoming stage of development. We invested numerous decades establishing our romantic relationship and shared eyesight with the Ampersand group and when they designed an investment decision in Sterling, a revered identify in professional medical device design providers, it was very clear that a mixture of our corporations was the right system to accelerate our collective purchaser-focused, speedy-to-market structure and manufacturing vision.”
CEO David Montecalvo added, “Sterling and RBC have formulated outstanding reputations in the market centered on their respective capabilities and monitor information of supporting Med Tech innovation. I am honored to companion with Ampersand and management and glance ahead to delivering a totally built-in assistance offering to our customers to guidance the progression of progressive treatment for sufferers.”
“We partnered with Ampersand to expedite the expansion of our current enterprise although also trying to find M&A possibilities that would be a strong cultural match and deliver capabilities complementary to our personal. We couldn’t have hoped for a improved in shape than RBC. Our groups are now collaborating to the reward of our buyers, and we are keen to develop a bright upcoming with each other,” noted Sterling’s Founder Dan Sterling. “We’re also excited to welcome David to the group. His knowledge will serve us nicely as we carry on to create a organization that can provider the requirements of small innovators and strategic titans alike.”
Trevor Wahlbrink, Husband or wife at Ampersand, commented, “We are particularly enthusiastic about the organization that has been established next the blend of these two superb businesses. The partnership is a earn-gain for latest and potential consumers and will give a total outsourced option for health care device innovation. We are thrilled to welcome David and Carl to the crew and seem forward to collaborating with them to continue on creating the small business via each organic and inorganic signifies.”
About Sterling Clinical Products
Positioned in Moonachie, New Jersey, Sterling Medical Gadgets is a supplier of tailor made electromechanical and software package methods for the healthcare device field. For much more than 21 years, the Company’s considerable and assorted knowledge in merchandise progress has assisted health care businesses convey their health care unit application and hardware, electromechanical products, and mobile medical unit applications to sector. Sterling addresses the entire growth system like programs, software, electronics, mechanical, high-quality, compliance, and regulatory affairs. For far more information and facts, visit www.sterlingmedicaldevices.com.
About RBC Clinical Innovations
Since 1994, clinical system firms have picked RBC Healthcare Innovations as a husband or wife to structure, develop and manufacture modern health care products because of to our capability to decrease time-to-industry even though supplying buyer-focused alternatives flexibly and dependably. Our platform-based mostly method has introduced many devices to market place for both of those key clinical product OEMs as effectively as the world’s foremost innovators. For extra info, go to www.rbccorp.com.
About Ampersand Capital Companions
Founded in 1988, Ampersand Funds Partners is a middle current market non-public equity agency with $3 billion of belongings beneath management dedicated to advancement-oriented investments in the health care sector. With workplaces in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique mix of non-public fairness and operating practical experience to construct price and push superior extended-term efficiency alongside its portfolio corporation administration groups. Ampersand has served build several market place-foremost providers across just about every of the firm’s main healthcare sectors. For more information and facts, stop by www.ampersandcapital.com or follow us on LinkedIn.
Source Ampersand Cash Partners
