This morning, private equity shop Vance Street Capital said it acquired A&E Medical, a medical device OEM that makes single-use temporary pacing leads and extension wires and sternum sutures for cardiovascular procedures, as well as other products.
Vance Street operating partner Mike Janish told Medical Design & Outsourcing that A&E is a “sleeping giant.”
“A&E is a small family owned company in New Jersey that has been under marketed and has operated successfully without much if any press,” Janish told us. “It is a beautiful gem comprised of great product designs, an established sales organization and outstanding customer service.”
Farmingdale, N.J.-based A&E Medical offers a variety of electrosurgical instruments, temporary cardiac pacing leads and extension wires, neurology scalp clips, stainless steel sutures and sternal wires, illuminated vein harvest retractors, and surgical punches.
““The company has been able to maintain a “robust” market share with its product technology, and its customer service reputation,” said Janish, the former president & CEO of Avalon Labs.
Janish notes that in mature markets such as the cardio surgical sector, these small but important players are becoming scarce. He says tier 1 firms should continue to rely on these companies as subject matter experts for specific medical devices. “Larger companies can leverage these firms to fill the knowledge gap while keeping their eye on the cutting edge of science.”
A&E Medical’s key products include the DoubleWire high-strength sternum closure system and a wide variety of MYO/Wire temporary cardiac pacing wires and extension leads, MYO/Wire II stainless steel sutures, and MYO/Punch surgical punches.
Janish said the goal is to help A&E Medical reach its potential by building distribution networks with tier 1 players in the industry, while continuing to develop new innovative products within this relatively mature market. Janish also noted that he is in final discussions with an experienced executive to step in as A&E Medical’s new president, whom he hopes can offer a pathway to BRIC market expansion.
“Our goal is to partner with tier 1 companies to bring these US designed products to the developing parts of the world.”