Private equity firm Nautic Partners has completed the previously announced sale of Ontario, CA-based Medegen to CareFusion for $225 million. Medegen develops, manufactures and markets disposable intravenous therapies under the Maximus and KippMed brands.
"With Nautic's active support and financial stewardship, Medegen's business has grown significantly," said Charles Stroupe, CEO of Medegen. "During the life of our partnership, the Medegen business has doubled its revenues, established a worldwide branded presence, and maintained an excellent record of quality in a highly regulated environment."
Medegen is CareFusion's first acquisition since its September spinoff from Cardinal Health, the San Diego Business Journal reports. In a statement, CareFusion says the buy supports the company's previously announced strategy of acquiring companies or technologies complementary to its industry-leading infusion, respiratory, dispensing and surgical products businesses that meet its objectives of driving innovation and global growth.
- see the Nautic Partners' release
- check out the CareFusion statement
- read the San Diego Business Journal's coverage