Latest acquisition reinforces TEAM Tech’s leadership as the premier outsourced manufacturer of mission-critical medical devices
Arlington Capital Partners (“Arlington”), a Washington, D.C.-area private investment firm specializing in government-regulated industries, today announced that its portfolio company TEAM Technologies (“TEAM Tech”), a leading end-to-end outsourced manufacturer of mission-critical medical devices, has acquired TAG3 Engineering, LLC (“TAG3” or the “Company”). The acquisition strengthens TEAM Tech’s design and development capabilities in the fastest growing medical device end markets, including therapeutic areas such as interventional cardiology and neurovascular. TAG3 is the third acquisition TEAM Tech has made within the first year of Arlington’s ownership.
TAG3 is a leading designer, developer and manufacturer of complex interventional medical devices, specializing in front-end design for innovative medical devices. The acquisition will complement TEAM Tech’s earlier acquisition of Duke Empirical (“Duke”), which specializes in the design and manufacturing of innovative catheters and minimally invasive delivery systems. The addition of TAG3 further expands TEAM Tech’s end-to-end offering, providing MedTech OEMs with a turnkey solution spanning from front-end design to commercial scale manufacturing.
Matt Altman, a Managing Partner at Arlington Capital Partners, said, “The acquisition of TAG3 further enhances TEAM Tech’s fast-growing minimally invasive surgical franchise. We are excited to partner with the exceptional TAG3 team to further support our healthcare customers from innovative design all the way through commercial production.”
Marshall White, President and CEO of TEAM Tech, said, “TAG3 is the perfect complement to our growing platform. Its front-end design expertise will accelerate the speed to market of mission-critical devices by seamlessly combining with the large scale commercialization capabilities of TEAM Tech. With these added capabilities, we are even better positioned to provide exceptional value to healthcare OEMs, and we are thrilled to welcome TAG3 to TEAM Tech.”
“TAG3 adds world-class design and development capabilities for complex Class II / III medical devices to TEAM Tech’s product portfolio along with expertise in advanced technologies including electrospinning, hydrophilic coatings and proprietary polymer blending,” said Gordon Auduong, a Managing Director at Arlington Capital Partners. “Together with Duke, TAG3 positions TEAM Tech as a true end-to-end partner in the most attractive medical device markets, accelerating speed to market for innovators building life-saving medical devices.”
Arlington has an extensive track record in the healthcare industry, where the firm helps to build leading businesses that save lives, improve the delivery of products and services and reduce costs for patients and providers. The firm’s recent healthcare investments include AVS Bio, Afton Scientific, Everest Clinical Research, Grand River Aseptic Manufacturing, Millstone Medical Outsourcing and Riverpoint Medical.
Solomon Partners served as financial advisor to TEAM Tech and Arlington. Bonifacio Consulting Services (BCS) served as operational advisor to TEAM Tech and Arlington.
