A Medical Device Daily

RoundTable Healthcare Partners (Lake Forest, Illinois) reported that it has completed the acquisition of Advantis Medical (Greenwood, Indiana), a manufacturer of medical case/tray systems for surgical instruments, implants and devices.

Advantis will be combined with Instrumed International (Roswell, Georgia), in which RoundTable acquired a majority interest in 2005, which specializes in manufacturing and sourcing of surgical instruments. The companies will form a new medical device outsourcing platform named Avalign Technologies.

Financial terms of the transaction and RoundTable’s investment were not disclosed.

“We are excited about the combination of Advantis and Instrumed to form Avalign,” said Joseph Damico, a founding partner of RoundTable and now chairman of Avalign. “We are impressed with Advantis’ design and engineering capabilities and its strong commitment to quality and customer service. These core competencies, combined with Instrumed’s expertise in manufacturing and sourcing precision surgical instruments, will position Avalign as a leading full-service provider of outsourced services to medical device OEM customers.”

With the formation of Avalign, RoundTable reported that Forrest Whittaker has joined as Avalign’s CEO. Whittaker previously served as president/COO of Teleflex Medical and in various executive roles at Tyco Healthcare, Baxter Healthcare and American Hospital Supply.

RoundTable facilitated completion of new senior credit facilities and a private placement of subordinated notes. The senior credit facilities were led by LaSalle Bank; GE Healthcare Financial Services also participated in the transaction. Avalign’s senior subordinated notes were purchased by RoundTable Capital Partners, RoundTable’s $200 million captive subordinated debt fund.

RoundTable is a private equity firm focused on healthcare.

• AngioDynamics (Queensbury, New York) and Rita Medical Systems (Fremont, California) reported expiration of the Hart-Scott-Rodino waiting period in connection with AngioDynamics’ acquisition of RITA.

Closing of the merger, about Jan. 29, remains subject to customary conditions, including adoption of the merger by holders of RITA’s common stock, and approval of the issuance of AngioDynamics common stock by holders of AngioDynamics’ common stock. The meetings of the companies’ stockholders are set for 9 a.m. PST, Jan. 29, in Fremont.

AngioDynamics is a provider of medical devices for the minimally invasive diagnosis and treatment of peripheral vascular disease. Its product line includes angiographic products and accessories, dialysis products, vascular access products, PTA products, drainage products, thrombolytic products and venous products.

RITA makes products that provide oncology therapy options for cancer patients including radiofrequency ablation (RFA) systems and embolization products for treating cancerous tumors, as well as percutaneous vascular and spinal access systems for systemic treatments. The company’s oncology product lines include implantable ports, some featuring its Vortex technology; tunneled central venous catheters; and safety infusion sets and peripherally inserted central catheters used in cancer treatment.