Tuesday, July 07, 2015
A Neenah company that makes medical products to prevent infections has been purchased by an Illinois private equity firm specializing in healthcare.
RoundTable Healthcare Partners, of Lake Forest, Ill., said Monday it has completed its acquisition of TIDI Products, a Neenah company founded in 1969.
TIDI is a designer, developer and manufacturer of a broad array of medical devices and supplies for preventing infections and supporting caregivers across acute care, alternate site and dental end-markets, RoundTable said.
Financial terms of the transaction were not disclosed.
Joe Damico, founding partner and co-chairman of RoundTable, will serve as chairman of TIDI. Kevin McNamara, president and chief executive, will continue to lead the TIDI's management team and will also serve on its board of directors.
"RoundTable is an ideal partner for TIDI," McNamara said in a statement. "RoundTable's relationships, experience and resources will be significant assets for us as we work to expand our portfolio and further penetrate our target markets, particularly in acute care."
Acute care generally refers to shorter-term healthcare treatment.
TIDI, which makes and sells protective eyewear, gloves, gowns and many other infection-prevention products, has about 240 employees.
"We are very excited to partner with TIDI," Damico said. "The company represents a strong medical device platform in infection prevention and we look forward to working with Kevin and his team to position the company for future growth by continuing to focus on the needs of TIDI's customers."
jsonline.com
