LAKE FOREST, Ill., Nov. 2, 2010 /PRNewswire/ — RoundTable
Healthcare Partners (“RoundTable”), an operating-oriented private
equity firm focused exclusively on the healthcare industry,
announced today that it has acquired a majority interest in Salter
Labs (“Salter”). Founded in 1976 by Peter Salter, Salter is a
leading manufacturer of disposable respiratory and sleep
diagnostics products used in both the home medical and acute care
markets.
“Salter represents an exciting opportunity for RoundTable to
enter the respiratory market,” said Lester B. Knight, Founding
Partner and Co-Chairman of RoundTable. “We are looking
forward to partnering with the management team and employees of
Salter as they expand on their successful track record of
developing and marketing innovative products.” Mr. Knight
will serve as Salter’s new Chairman.
“RoundTable is an ideal partner for Salter,” stated Mr. Salter.
“Their extensive experience in the medical consumables industry and
their strategic insight will be extremely valuable to Salter as it
continues to execute its growth strategy.”
To finance the acquisition of Salter and further growth
opportunities, RoundTable facilitated the successful completion of
new senior credit facilities and a private placement of senior
subordinated notes. The senior credit facilities were led by
GE Commercial Finance Healthcare Financial Services, and included
the PrivateBank. Salter’s senior subordinated notes were
acquired by RoundTable Capital Partners II (“Capital Fund II”),
RoundTable’s second captive subordinated debt fund. Capital
Fund II is a dedicated subordinated debt fund that makes fixed rate
subordinated debt investments alongside the equity investments of
RoundTable’s equity funds. As part of the transaction, Bolder
Capital acquired a minority equity stake alongside RoundTable, in
addition to a portion of the senior subordinated notes.
RoundTable’s investment strate
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