Action Fabricators Acquires George Medical
Chattanooga, TN, June 30, 2017
River Associates Investments (“River Associates”), a longstanding lower middle market private equity firm based in Chattanooga, TN, announced the acquisition of George Medical, Inc. (“George Medical”) by CSI Medical, Inc. a subsidiary of its Grand Rapids, MI portfolio company Action Fabricators, Inc.. The acquisition closed June 30, 2017. Terms of the transaction are not being disclosed.
Based in Wheaton, IL, George Medical specializes in the cGMP/ISO 13485 development and manufacture of sterile or non-sterile private label wound care / catheter securement dressings for marketers of wound care products selling to hospitals, long term care or home health care. In addition, the Company targets kit packers and companies marketing procedure trays for intravenous therapy or interventional radiology, including peripheral IV, central access, PICC lines, etc.
Fred Knox, CEO of CSI, states, “George Medical provides CSI and its sales team with an extensive line of proprietary wound care and catheter securement dressings. The market for these private label would care and securement dressings continues to grow and expand. This acquisition further enhances our position and offers yet another avenue for the company to provide value added products to the disposable medical device industry. The acquisition fits perfectly within our overall growth strategy.”