Nordic Capital Fund IX has agreed to acquire a majority holding in Orchid Orthopedic Solutions, from Altor Fund III who will retain a significant minority holding in the company.
 
Headquartered in Holt, Michigan, Orchid is a world leader in the design and manufacture of implants to the global orthopedic market. Orchid’s leading offerings span hip, knee, trauma, extremity and spinal implant products, as well as single-use and multi-use complex instruments used in implant related surgical procedures.
 
As a strategic partner to the leading global medical device OEMs, Orchid offers solutions in product and procedure design and possesses the full range of manufacturing processes required to produce finished, packaged products. The company serves a global customer base from its 12 manufacturing sites in the US, UK, Switzerland and China. Orchid innovates continually to provide differentiated processes yielding unique products, while simplifying its customers’ supply chains, delivering outstanding quality and offering end-to-end solutions benefitting from the broadest implants portfolio in the market.
 
The orthopedic implant market benefits from strong secular growth driven by larger and increasingly active elderly populations, obesity, medical advancements and increased access to surgical orthopedic care. As a leader in the industry and with Nordic Capital’s support, Orchid is ideally positioned to capitalise on this demand growth while helping its customers become more competitive.
 
“We are impressed by Orchid’s strong management team and attractive position in the growing orthopedic implant market, and look forward to supporting the company through its next phase of development. Orchid has a unique set of implant manufacturing capabilities across product categories, and is a true innovator simplifying and improving its customers’ supply chains. We are fully committed to supporting Orchid’s growth strategy in close partnership with management,” said Jonas Agnblad, partner and co-head of Healthcare at the advisor to the Nordic Capital Funds.
 
Orchid’s current management team, led by CEO Jerry Jurkiewicz, will continue to lead the company, building on its strong track record of both organic and acquisitive growth.
 
“We are very proud of what we have achieved in recent years and are very excited to continue this journey with Nordic Capital as our new partner. We are building the Orchid platform with a focus on satisfying our customers with a broad array of innovative implants procedure solutions from a global network of operationally excellent sites. With a great partner like Nordic Capital, I am confident our progress will only accelerate” said Orchid CEO Jerry Jurkiewicz.
 
Nordic Capital is the pre-eminent European healthcare investor with a strong track-record of successful healthcare investments in North America. Since inception in 1989 the Nordic Capital Funds have deployed more than EUR 6 billion in 27 healthcare platform investments across Europe and North America, supporting active value creation agendas to build industry winners.
 
The parties have agreed not to disclose financial details of the transaction, which remains subject to customary regulatory approvals. Goldman Sachs and Citi acted as financial advisors to Nordic Capital and Kirkland & Ellis LLP acted as its legal advisor.