The acquisition of the Critical Care and Extended Dwell Catheter product platforms further positions Argon as a leading provider of vascular access products by joining Argon's other products including Cleaner™ Rotational Thrombectomy System, JAWZ™ Endomyocardial Biopsy Forceps, pressure transducers, high pressure manifolds and vascular introducer kits. The company's products are sold through a combination of direct sales representatives and specialty distributors in the United States and a network of leading distributors internationally.
As part of the transaction, Argon also acquired a dedicated state-of-the-art facility in Yishun, Singapore. Argon manufactures its other products in facilities in Athens, TX.
"The BD pressure monitoring and catheter products are well recognized by hospitals and physicians worldwide," said Michael J. Hudson, CEO of Argon. "The acquisition of these well-recognized products rounds out the Argon portfolio giving us a significant global presence in these important markets."
"The global nature of this product platform makes this acquisition particularly complex," said Joseph F. Damico, Founding Partner and Co-Chairman of RoundTable. "RoundTable's in-house resources in sales, manufacturing, IT and human resources are working closely with the Argon team to effectively integrate the operations of these two businesses and position Argon for growth."
As part of the transaction, and to finance further growth opportunities for Argon, RoundTable facilitated the successful completion of new senior credit facilities and a private placement of subordinated notes. The senior credit facilities were led by GE Commercial Finance Healthcare Financial Services. Argon's subordinated notes were acquired by RoundTable Capital Partners ("Capital Fund I"), RoundTable's captive subordinated debt fund. Capital Fund I is a dedicated subordinated debt fund that makes fixed rate subordinated debt investments alongside the equity investments of RoundTable's equity funds. RoundTable and certain other investors made an equity investment in Argon as part of the transaction.