Selected Transactions

Sector Acquiror Acquired Company Comments
Compounding/Specialty Pharmacy Distribution Medical Specialty Distributors, LLC
a leading alternate site patient supply chain solutions provider and a portfolio company of New Mountain Capital.
Attentus Medical Sales, Inc.
a provider of specialized products to compounding, specialty, and infusion pharmacies
To serve the changing needs of compounding and specialty pharmacies, Attentus provides consulting services and compliance advice, along with formularies of novel products, to non-retail pharmacy accounts. Its accounts include some of the largest companies in each channel, most with multiple locations throughout the U.S. Given Attentus' unique and personalized approach to the market, The Walden Group carefully collaborated with the principals to pull together the needed elements to properly convey the value and growth potential of the company. Walden secured multiple offers, helped evaluate all aspects of each and worked closely with the parties, their lawyers and other advisors to reach a successful conclusion.
Surgical Instruments Avalign Technologies, Inc.
a full-service supplier of surgical implants, instruments, and delivery systems and a portfolio company of Arlington Capital.
Millennium Surgical Corp.
a provider of branded surgical instruments to hospitals and surgery centers for use in orthopedics, neurosurgery, ophthalmics and other clinical specialties.
Millennium pioneered a new inside sales model employing sophisticated data-driven inbound marketing techniques to compare specialized instruments and develop new customer relationships at hospitals and surgery centers. Avalign is a portfolio company of Arlington Capital. Representing Millennium, The Walden Group positioned the company to take advantage of its unique business model, conducted a discerning process, advised the principals in negotiating with Avalign, and guided the transaction to closing.
Advanced Woundcare Shore Capital Partners
a prominent private equity firm specializing in the healthcare industry.
Argenturm Medical, LLC
an advanced woundcare company specializing in antimicrobial dressing technologies.
Argentum's core platform technology, Silverlon, is a uniquely designed silver-plated nylon matrix that releases potent silver ions into the wound, thereby facilitating the healing process. Validated by several clinical studies, Silverlon dressings are used by surgeons and other healthcare professionals around the world on surgical wounds, burns, chronic wounds, IV catheter-related wounds, and for negative pressure wound therapy. In 2015, the U.S. Biomedical Advanced Research and Development Authority (“BARDA”) awarded Argentum a multi-year contract up to $16.5 million to support new tSilverlon indications for ionizing radiation and sulfar mustard burns. In addition, BARDA selected Silverlon from a broad range of wound care products for inclusion on an annual basis in the Strategic National Stockpile. The Walden Group prepared Argentum and its principals from the inception of the transaction, conducted a private, close-to-the-vest process of engaging operating companies and financial sponsors, helped to negotiate the terms and guided the transaction to closing.
Stroke Diaganostics A Private Investor VasSol, Inc.
the developer of the NOVA non-invasive stroke diagnostic system based Quantitative Magnetic Resonance Angiograms (QMRAs)
The NOVA system is a ground-breaking approach to non-invasively diagnosing stroke risk based on objective blood flow measurements regionally in the brain and neck. Patients determined to be at low risk can avoid unnecessary further testing and risky interventions that can make their condition worse by inducing a stroke or even death.. For patients determined to be at high risk, surgical interventions can now be supported by quantitative data. For such patients, the risk of not having surgery can be shown via NOVA to be greater than having the surgery. The Walden Group prepared and guided the company and its principals throughout a discrete offering process and served as its financial and transactional advise.
Ophthalmic Diagnostics Halma plc (LSE:HLMA)
a diversified public company making products and technologies for the medical, process and infrastructure safety and environmental analysis sectors.
Visiometrics, S.L. (Barcelona, Spain)
a fast growing manufacturer of vision quality instruments to measure the early onset of cataracts and other conditions.
The Walden Group identified Visiometrics as a strategic fit, cultivated a relationship with Visiometrics' principals, advised Halma on the transaction, and assisted in its completion. Visiometrics a fast growing business that designs and manufactures instruments to measure objectively a person’s visual acuity, such as early stages of cataract formation. The objective measurement method allows a doctor to select, plan and monitor the appropriate treatment for each patient. Conventional measures of visual acuity are subjective and require input from the patient and/or judgment from the doctor to determine the appropriate course of action. The Walden Group identified Visiometrics as a strategic fit, cultivated a relationship with Visiometrics' principals, advised Halma on the transaction, and assisted in its completion.The HD Analyzer can be used for, among other things: diagnosing and monitoring the evolution over time of pathologies or refractive disorders;evaluating the level of light scatter (OSI) for the early detection of cataracts and the determination of its degree of maturity; evaluating tear film quality; and objectively measuring the amplitude of accommodation and pseudoaccommodation.
Surgical Lighting Cura Surgical, Inc.
a provider of specialized surgical technologies.
The Surgical Lighting Division of Lumitex, Inc.
a maker of advanced cool, shadowless lighting applications that illuminate open surgery sites
The Walden Group represented Cura Surgical in this fitted, strategic transaction. Lumitex's lighting applications adhere to retractors and can provide immense illumination in surgical sites (including deep cavities), improving upon surgeon headlamps and overhead lights.
Ophthalmic Surgery Beaver-Visitec International, Inc.
a global leader of world renowned brands for ophthalmic and specialty microsurgical procedures and a unit of Roundtable Healthcare Partners.
Endo Optiks LLC
a developer of minimally invasive ophthalmic diagnostic and surgical systems,
The Endo Optiks developed a minimally invasive endoscopy system that enables visualization of eye anatomy that could not otherwise be viewed and involves novel treatment approaches. The system is supported by a significant and growing body of clinical evidence. The Walden Group represented Endo Optiks and its principals in bringing about a strategic transaction with a substantial industry player that could propagate the Endo Optiks system across all active geographical markets and thereby improve patient care and clinical outcomes.
Orthopedics/Orthotics Orthotics Holdings Inc.
the North American market leader in the manufacture of custom orthotic and ankle foot orthosis products and a unit of Frazier Healthcare.
The PedAlign Foot Orthotics Business
a producer of advanced foot orthotics based on digitized technology. The Walden Group represented PedAlign and arranged for the transaction.
The Walden Group was called upon to represent a foot orthotics company with operations in a foreign country, making for a challenging but rewarding transaction. In a consolidating industry, where less expensive over-the-counter, prefab insoles are becoming more popular, PedAlign represented a high margin, custom orthotic offering sold through podiatry and professional channels.
Surgical Instruments STERIS Incorporated (NYSE:STE)
a $2.1b provider of infection prevention, contamination control, and surgical support products and services primarily to hospitals.
Life Systems, Inc.
a leading endoscopic instrument repair and maintenance company.
Steris was on the opposite side of the negotiating table in an earlier transaction in which Walden represented Total Repair Express (TRE) in its sale to Steris. Thereafter, at Steris' request and on its behalf. Walden identified Life Systems as a strategic fit by way of endoscope repair technical expertise, as well as providing Steris with better penetration in the midwest. During the goodwill created, Life Systems requested that Walden represent both sides, but given the dynamics both agreed that Life Sciences would benefit more from Walden's representation.
Ophthalmic Surgery Katena Holdings, Inc.
a leading provider of surgical instruments and other products for ophthalmic surgery.
Arxa5 Corporation d/b/a IOP Ophthalmics
a provider of amniotic membranes and other technologies for ophthalmic surgery.
In 2009, The Walden Group represented Katena Instruments in its sale to The Cortec Group. Subsequently, Cortec asked Walden to assist it with add-on acquisitions for Katena, after Cortec had previously considered an array of candidates but did not acquire any. After a thorough market review, Walden identified IOP has a promising synergistic fit and initiated this transaction on behalf of Katena and Cortec.
Ophthalmic Surgery Halma p.l.c. (HLMA.L:LSE)
a provider of health optic products, sensor technologies, instruments for eye surgery and diagnostic monitoring devices.
MicroSurgical Technology, Inc.
a manufacturer of specialized ophthalmic surgical devices.
Representing Halma, The Walden Group cultivated a relationship with MST and assisted Halma in structuring the transaction and the various steps in effecting a closing by year-end.
Surgical Instruments Steris Corporation (NYSE:STE)
a $2.1b provider of infection prevention, contamination control, and surgical support products and services primarily to hospitals.
Total Repair Express (TRE)
a national provider of comprehensive surgical instrument repair services, difficult-to-source custom parts for hospital products, technical staff training, and sophisticated instrument tracking information systems.
Having had a relationship with TRE for a few years, The Walden Group was approached by Steris to determine TRE's willingness to consider an acquisition by Steris. At that time TRE was in transition and had made numerous investments in new salespeople and other assets that had yet to be reflected in improved performance. Walden assisted TRE to credibly pro forma such investments and changes in a manner acceptable to Steris, and thereby helped to effect a transaction on terms both parties found acceptable.
Advanced Wound Care Molnlycke Health Care
a Sweden-based maker of advanced woundcare and surgical products
Brennen Medical
a maker of advanced wound and burn products based on porcine xeongraft and oat beta glucan technologies. Representing Molnlycke, The Walden Group performed a strategic acquisition search, identified Brennen and helped arrange for the transaction.
Molnlycke engaged Walden to assist it in making corporate acquisitions complementary to its wound care franchise. Walden identified Brennen has an synergistic entre into bioactive technologies, helped negotiate the deal terms and facilitated the transaction.
Pain Management Roscoe Medical
a provider of homecare products and a portfolio company of River Associates LLC.
Current Solutions
a maker of non-invasive pain management products
Walden had represented the Koalaty Products pain management business in its sale to Current Solutions. Several years later, Current Solutions called upon Walden to represent it in a divestiture transaction. Walden effected the transaction with River Associates and its portfolio company.
Non-Invasive Orthopedic Products DJO Incorporated
a leading producer of orthopedic devices and products for rehabilitation, pain management and physical therapy
Bell-Horn Orthopedic Products
a supplier of orthopedic softgoods primarily to independent pharmacies
Walden represented Bell-Horn, which offered DJO a distribution channel for non-invasive bracing products not subject to medical reimbursement constraints.
Medical Electronics Seque Manufacturing Services (US)
a contract manufacturer of electronic medical products.
Sanbor Interconnect Solutions (China)
a leading OEM manufacturer of complex medical interconnect solutions
Walden represented Sanbor, which offered Seque a high quality, low-cost China-based technical manufacturing capability, as well as a new niche in medical-oriented cable assemblies.
Cardiovascular Stent Systems Degania Silicone Ltd. (Israel)
a leading OEM manufacturer of specialized stent delivery cardiovascular catheters
Arthesys, S.A. (France)
a leading OEM manufacturer of silicone-based catheters and other devices. The Walden Group was retained by Degania to conduct a strategic acquisition search, identified Arthesys, and helped arrange for the transaction.
Walden was retained by Israel-based Degania to identify synergistic companies to complement its silicone-based medical device disposable business. Walden identified and effected the transaction with Arthesys, which provided specialized cardiovascular technologies using high-end thermoplastic implantable materials.
Ophthalmic Instruments The Cortec Group
a private equity firm
Katena Products Inc.
a leading manufacturer of ophthalmic surgical instruments
The owners of Katena retained Walden to find a worthy home for its leading ophthalmic instrument lines. As part of a disciplined process conducted by Walden, Cortec emerged as the best fit.
Pain Management KPI Acquisition Co., LLC
a corporate acquisition company
Koalaty Products, Inc.
a provider of electronic products for pain management and rehabilitation
Walden represented Koalaty Products in this sale transaction. Walden was later called upon by the acquiror to represent it in reselling the business.
Incontinence Paul Hartmann AG (Germany)
a producer of wound management, incontinence management and operating room risk prevention products
Whitestone Corp.
a manufacturer of incontinence management products for long-term and homecare markets

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