Quadria Capital has announced the acquisition of a majority stake in Straits Orthopaedics from its founder, Mr. T.H. Su, and Apex Healthcare Bhd. Kirkland & Ellis advised Quadria Capital on the debt financing for its acquisition.
Under the terms of the agreement, Apex Healthcare Bhd and Su have agreed to reinvest a substantial portion of their sales proceeds back into the company as minority-stake partners. As part of the deal, Su has been reappointed as the CEO and director of the company for the next five years. Financial terms of the deal were not disclosed.
Founded in 2003, Straits Orthopaedics manufactures a range of orthopedic-focused medical device solutions for blue-chip medical device companies around the world.
Quadria Capital is an independent healthcare focused private equity firm that specializes in growth capital investments in small cap and middle-market companies within the healthcare sector across South and Southeast Asia.
According to data captured in the LevinPro HC database, this acquisition marks the fifth contract development and manufacturing organization (CDMO) acquisition of 2023. There were 39 CDMO transactions announced during 2022.
