Arlington Capital makes acquisition to boost medical device capabilities

Arlington Capital Partners said Tuesday its portfolio company TEAM Technologies has acquired TAG3 Engineering, a move that expands its capabilities in fast-growing medical device markets.

Arlington, a Washington-area private investment firm specializing in government-regulated industries, said the deal strengthens TEAM Tech’s design and development expertise in therapeutic areas such as interventional cardiology and neurovascular. TAG3 is the third acquisition TEAM Tech has made within the first year of Arlington’s ownership.

“TAG3 is the perfect complement to our growing platform,” Marshall White, president and CEO of TEAM Tech, said in a statement. “Its front-end design expertise will accelerate the speed to market of mission-critical devices by seamlessly combining with the large scale commercialization capabilities of TEAM Tech. With these added capabilities, we are even better positioned to provide exceptional value to healthcare OEMs, and we are thrilled to welcome TAG3 to TEAM Tech.”

Matt Altman, a managing partner at Arlington, said, “The acquisition of TAG3 further enhances TEAM Tech’s fast-growing minimally invasive surgical franchise. We are excited to partner with the exceptional TAG3 team to further support our healthcare customers from innovative design all the way through commercial production.”

TAG3 is a designer, developer and manufacturer of complex interventional medical devices, specializing in front-end design for innovative medical devices. The company’s capabilities will complement TEAM Tech’s earlier acquisition of Duke Empirical, which focuses on catheters and minimally invasive delivery systems.

“TAG3 adds world-class design and development capabilities for complex Class II / III medical devices to TEAM Tech’s product portfolio along with expertise in advanced technologies including electrospinning, hydrophilic coatings and proprietary polymer blending,” said Gordon Auduong, a managing director at Arlington. “Together with Duke, TAG3 positions TEAM Tech as a true end-to-end partner in the most attractive medical device markets, accelerating speed to market for innovators building life-saving medical devices.”

Arlington said it has a long track record in the healthcare sector, backing businesses that “save lives, improve the delivery of products and services and reduce costs for patients and providers.” Its recent investments include AVS Bio, Afton Scientific, Everest Clinical Research, Grand River Aseptic Manufacturing, Millstone Medical Outsourcing and Riverpoint Medical.

Solomon Partners served as financial advisor to TEAM Tech and Arlington. Bonifacio Consulting Services served as operational advisor.