A Chicago investment firm has acquired Pierceton-based Paragon Medical Inc. Terms of the deal are not being announced, but the Kosciusko County medical industry supplier expects it to close in December. November 7, 2013
PIERCETON, Ind. – Paragon Medical, Inc. announced today that it has entered into a definitive merger agreement with an affiliate of Beecken Petty O'Keefe & Company (“BPOC”), a Chicago-based private equity firm focused exclusively on the health care industry. The company's new partner positions Paragon well to execute on its organic and inorganic growth initiatives. The terms of the transaction were not disclosed, and the transaction is expected to close in early December.
Beecken Petty O'Keefe & Company specializes in creating long-term partnerships with visionary executives to build businesses. “Paragon is a natural fit for our strategy of investing in industry leading companies that are led by world-class management teams,” commented David Beecken, a Partner with BPOC.
“We are pleased to welcome Beecken Petty O'Keefe & Company to the Paragon family”, stated Tobias Buck, President, Chairman and CEO of Paragon Medical. “BPOC is very highly regarded and will enhance our organization's ability to embrace the collective expectations of our client community.”
Paragon was advised by William Blair and Company LLC, Chicago, IL, and represented by Barnes&Thornburg LLP, Indianapolis, IN. BPOC was represented by Paul Hastings LLP, Chicago, IL.
About Paragon Medical:
Paragon Medical is a tier 1, turnkey supplier of world-class solutions for custom and standard surgical instrument delivery systems, custom and standard surgical instrumentation, implantable components, and design and development services to the medical device marketplace. Incorporated in 1991 and headquartered in the orthopaedic capital of the world, Paragon has created strategic centers of excellence within the United States, Europe and Asia. Offices and production facilities are located in Pierceton, Indiana; Indianapolis, Indiana; Smithfield, Utah; Lausanne, Switzerland and Changzhou, China. More information about the company may be found at www.paragonmedical.com
Source: Paragon Medical Inc.