Sterling Medical Devices, a portfolio company of private equity firm Ampersand Capital Partners, announced on February 8 its recapitalization and simultaneous merger with RBC Medical Innovations.
RBC brings additional design and development capacity, including expertise in energy-based electromechanical devices, as well as manufacturing capabilities to the combined organization.
As part of the transaction, MedTech industry executive David Montecalvo has been appointed CEO of the combined company. Sterling Founder Dan Sterling will remain on the senior leadership team and a board director. RBC Founder Carl Mayer has joined the board of directors.
RBC Medical Innovations is a medical device design and manufacturing firm located in the Kansas City metro area. Since 1994, medical device companies have selected RBC Medical Innovations as a partner to design, develop and manufacture medical devices.
Located in Moonachie, New Jersey, Sterling Medical Devices is a provider of custom electromechanical and software solutions for the medical device industry. Sterling addresses the entire development process including systems, software, electronics, mechanical, quality, compliance and regulatory affairs.
According to data captured in the LevinPro HC database, this acquisition represents the 19th
Medical Devices deal of 2023. This is an approximately 26.7% increase from 2022 when 15 Medical Devices transactions were announced between January 1, 2022, and February 8, 2022.
