Holt, MI, April 01, 2012 --(PR.com
)-- Orchid MPS Holdings, LLC (Orchid), owned by Altor Fund III (Altor), is pleased to announce it has completed the acquisition of Sandvik Medical Solutions (SMS), a major contract manufacturer of medical implants and instruments for the orthopedic and dental markets, from Sandvik.
The new combined company will be called Orchid Orthopedic Solutions and has approximately 1500 employees. Orchid is a recognized leader in the contract design and manufacturing business in the Orthopedic, Dental and Spinal industry and it has strengthened its influence in product offerings and customer service with the acquisition of SMS, together touching ca. 30% of the world’s orthopedic implants.
Orchid assumed full control and ownership for SMS on March 31, 2012.
Orchid Orthopedic Solutions is a worldwide leader in contract design and manufacturing for the orthopedic, dental, and cardiovascular markets. Orchid’s mission is to be the leader in contract medical design and manufacturing by compressing time to market, providing new technology, and being the best total supply-chain value. The company consists of five divisions that offer an array of implants and instruments within the five core capabilities: design, forging, machining, plastics, and coatings.
The Altor Funds are private equity funds, consisting of the “Altor 2003 Fund”, which has committed capital of EUR 650 million, “Altor Fund II”, which has committed capital of EUR 1,150 million, and “Altor Fund III”, which has committed capital of EUR 2,000 million. The Altor Funds are advised by Altor Equity Partners. Altor’s investors include, among others, leading US university endowments and leading European pension and insurance institutions. Altor invests in companies, committed to creating value through growth, strategic development and operational improvements. Since being founded in 2003, the Altor Funds have made more than 30 platform investments and more than 35 strategic add-on acquisitions. Current and previous investments within the health care sector include Sonion, Ferrosan and PaloDEx. For more information, please visit www.altor.com.
[For inquiries please contact:]
Altor: Claes Ekström, Partner, Altor Equity Partners AB, +46 8 678 9129
Orchid: Mike Miller, CEO, Orchid Orthopedics, +1 517 694 2300