Selected Transactions

a premier provider of high-quality ophthalmic surgical instruments and sterile processing supplies.

a provider of innovative sterilization instrument trays and surgical instruments for medical and animal health markets.

The Walden Group is pleased to announce that it represented RICA Surgical Products, Inc., as investment banker and M&A adviser, in its sale to Mastel Precision Surgical Instruments, Inc., a member of the Pacific Surgical family of companies (based primarily in Canada). RICA adds to Mastel Surgical an extensive range of high-end sterile processing products (including innovative instrument trays, latches, stringers, and baskets), as well as a full range of surgical instrumentation for animal health. Mastel Surgical is a premier provider of high-quality ophthalmic surgical instruments and sterile processing supplies. The deal is expected to add significant value to both parties and unlock untapped growth potential in RICA's medical and animal health businesses, as well as expand Pacific Surgical’s U.S. footprint.

a major global eye health company

one of the last independently-owned, top-tier manufacturers of ophthalmic surgical instruments and engineered precision components

An extremely high-end innovative manufacturer, TTI has developed efficient, high-precision Swiss-lathe production processes and finishing operations that optimize accuracy, quality, regulatory compliance, efficiencies, speed-of-execution, and customer satisfaction, all benefiting its OEM accounts, ophthalmic surgeons and their patients.  Vertically integrated and forward-looking, TTI created sophisticated training and apprenticeship programs to enable a continual progression of expert instrument makers and other craftsmen.  Walden guided TTI and its principals in developing company analyses and presentations and interacting with many prospective acquirors in coming to terms with a highly synergistic transaction with B&L.  The deal is expected to add significant value to both parties and to support productive growth in the TTI business and the professional development of its loyal and talented organization.  

one of the world’s leading medical technology companies traded on the German Stock Exchange

a leader in vitreoretinal instruments, fiberoptic illumination, innovative light sources and other ophthalmic surgical technologies

The principals of Katalyst Surgical engaged Walden more than 14 months prior to the closing to prepare the company and organize a discrete corporate sale process to optimize the valuation and potential of its leading edge vitreoretinal technology business conducted worldwide. Katalyst's novel technologies include: patented "stiff shaft' instruments that makes small diameter instruments (27 ga) available via a retractable sleeve that stiffens and stabilizes an instrument's shaft; groundbreaking technology that substantially widens the lighted surgical field and increases the light intensity inside the eye; Micro-Vacuum Piks (MVP) for grasping and peeling retinal membranes without the use of forceps; and "Multiflex" illuminated laser probes.

a recognized worldwide leader in specialty surgical and consumable ophthalmic and optometric products.

an industry leader for over 35 years – providing high-quality ophthalmic surgical instruments, with special focus on the design of new products and technologies.

The principals of ASICO engaged Walden, in large part, due to its substantial track record and experience in regard to ophthalmic industry transactions. Walden had represented: Katena in its sale to Cortec Group and its subsequent purchase of IOP (amniotic membranes); Endo Optiks (ophthalmic endoscopy and minimally invasive glaucoma treatment) in its sale to BVI (when owned by Roundtable Healthcare Partners); Halma plc in its purchases of MicroSurgical Technology (maker of the Malyugin ring pupil expander and other products) and Visiometrics (diagnostic equipment to assess the early onset of cataracts); and other clients in the ophthalmic diagnostic and medical and surgical treatment areas. In the ASICO-Katena transaction, Walden guided the transaction through the market turbulence caused by covid and helped to link up ASICO's R&D capabilities and thriving KOL ophthalmic surgeon network into Katena's formidable instrument business.

a prominent private equity focused on helping growth-oriented medical and other technology companies realize their potential.

a major developer and manufacturer of advanced bioabsorbable and non-absorbable sutures; high-strength fiber implantables for sports medicine surgery; patented cordless surgeon headlights; and brachytherapy (cancer) devices.

Walden served as Riverpoint’s merger and advisor and helped navigate a process to find the best fit for Riverpoint and its principals, the Ferguson family. The process took considerable thought and preparation to pull together a significant amount of information to make sure Riverpoint’s differentiators and predictable R&D and new customer opportunities were clearly understood by prospective partners and properly valued.  Given the immense opportunities involved, it was critical to find a partner that had a lengthy track record of scaling up a medtech company like Riverpoint on a methodical basis and where the investors were at one with the selling family in terms of corporate personality and growth strategy. With sophisticated operations based in the United States, substantial customer relationships and unrelenting quality standards, Riverpoint involves immense growth opportunities in multiple healthcare sectors worldwide. Riverpoint develops and markets innovative products into orthopedic, spine, neuro, cardio-vascular, women’s health and other surgical markets. It is also a major provider of suture-based products for veterinary and dental markets. Its products are sold internationally on a branded, private label and OEM basis and major medtech companies rely on Riverpoint for its innovative offerings to serve patients undergoing critical-care procedures.  

a privately-owned manufacturer of speciality surgical instruments for neurosurgery, ob/gyn, orthopedic, plastic, cardiovascular and other procedures.

a manufacturer of single use "cool" tip" surgical lighting retractor, irrigation and aspiration products.

VLM had purchased the LightMat and VersaLight open surgery lighting lines in 2015. But due to a transaction by an affiliated company, VLM retained Walden to divest the lighting unit.  Walden advised on separating the unit from other operations, preparing it for sale, allocating overhead and other items shared with affiliates, valuation, and many other transaction dynamics.  Walden identified the appropriate buyer-prospects, assessed the pros and cons of each, negotiated the final deal with the acquiror, was at the center of several renegotiations,  and facilitated the closing.

a leading alternate site patient supply chain solutions provider and a portfolio company of New Mountain Capital.

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.

a full-service supplier of surgical implants, instruments, and delivery systems and a portfolio company of Arlington Capital.

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.

a prominent private equity firm specializing in the healthcare industry.

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.

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.

a diversified public company making products and technologies for the medical, process and infrastructure safety and environmental analysis sectors.

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.

a leading developer of compression therapy, woundcare and orthopedic technologies.

a developer and pioneer of lymphedema compression products to treat acute and chronic edema and related venous insufficiency.

JoviPak developed new "variable pressure point" technology to fill a critical unfilled need in edema treatment by simulating the dynamic massaging action of expert lymphedema therapy in gently releasing trapped fluid so that it properly drains via the lymph system. Like with founder/owners of other companies, Walden worked for months to prepare the pioneer behind the company prior to presenting the opportunity to a limited number of synergistic operating companies and PE-firms with woundcare and compression experience. All of the company's "native knowledge", all of its differentiators, and all of its competitive advantages needed to be brought together in an informative "investment grade" manner to resonate with prospective partners.  Once the painstaking preparation was done, Walden carefully interacted and screened the prospects, helped narrow the interest, and then build on the rapport between the parties to lead to a closing and a successful integration. 

a provider of specialized surgical technologies.

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.

a global leader of world renowned brands for ophthalmic and specialty microsurgical procedures and a unit of Roundtable Healthcare Partners.

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.

the North American market leader in the manufacture of custom orthotic and ankle foot orthosis products and a unit of Frazier Healthcare.

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.

a $2.1b provider of infection prevention, contamination control, and surgical support products and services primarily to hospitals.

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.

a leading provider of surgical instruments and other products for ophthalmic surgery.

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.

a provider of health optic products, sensor technologies, instruments for eye surgery and diagnostic monitoring devices.

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.

a $2.1b provider of infection prevention, contamination control, and surgical support products and services primarily to hospitals.

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.

a Sweden-based maker of advanced woundcare and surgical products

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.