Shore Capital Partners Announces Partnership with C2Dx and Acquisition of Otolaryngology/Head and Neck Surgery Assets from Cook Medical
January 24, 2024
CHICAGO & KALAMAZOO, Mich.–(BUSINESS WIRE)–Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a partnership with C2Dx (“C2Dx” or “The Company”), a medical device company based in Kalamazoo, Michigan, with a second location in Memphis, Tennessee. Following the partnership, Shore Capital and C2Dx are also pleased to announce they have acquired the Otolaryngology/Head and Neck Surgery (“OHNS”) family of products from Cook Medical (“Cook”). These products provide minimally invasive procedures for ENT surgeons to help treat obstructive salivary disease, chronic ear disorders, nasal/sinus and skull base reconstruction, and dysphagia.
“Shore is very proud and excited to partner with C2Dx. Kevin McLeod and his high-caliber team have built an incredible company with an excellent reputation in the medical device space,” said Don Pierce, Partner at Shore and Chairman of the Board of C2Dx. “We are well-positioned to build on their reputation as an industry leader through both acquisitions and organic growth, and the initial acquisition from Cook Medical complements and differentiates the platform’s product offerings.”
Founded in early 2019 by current CEO Kevin McLeod and Ann Arbor-based growth capital firm Plymouth Growth Partners, C2Dx is led by a team of medical device industry experts with over a century of experience managing growth-oriented teams. Since it was founded, C2Dx has expanded its product offerings and capabilities through product line acquisitions, recruitment of talented executives and employees, and superior customer service. “We are ecstatic to announce our partnership with Shore Capital given their proven playbook for growth and track record of performance, specifically in the medical device space,” Mr. McLeod said. “Our partnership will enable us to invest further in our team, capabilities, and offerings, so we can grow faster and continue providing excellent service and products to our customers. Our acquisition of Cook’s OHNS product family is transformative for C2Dx, and consistent with the strategy we developed when we partnered with Shore.”
“Cook has done an excellent job establishing these products as reliable, high-quality solutions for ENT and head & neck focused procedures specifically, and we have enjoyed working with them on this transaction,” said Mr. McLeod. “We are excited to increase the market penetration of these products through our deep and experienced sales organization, international distributor network, and product enhancements.”
The OHNS family of products is C2Dx’s fourth product line acquisition, joining its previous acquisitions of the Shaw Scalpel (from Hemostatix), STIC Intra-Compartmental Pressure Monitor (from Stryker), and T/Pump Localized Temperature Therapy System (from Stryker). “OHNS is an excellent fit for building a leading platform serving the ENT and soft tissue markets,” said Mr. Pierce. “These products extend C2Dx’s domestic and international sales reach and increase the depth of its product portfolio.”
C2Dx and Shore are actively pursuing opportunities to build a strong and diversified medical device company through new industry partnerships, business development and further investment in the Company’s products and team, with a vision to serve multiple specialties and procedures across the U.S. and internationally.
About Shore Capital Partners
Shore Capital, a Chicago based private equity firm with offices in Nashville and Detroit, is an investor in microcap companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk, through access to capital, world class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. From 2020-2023 Shore received recognition from Inc Magazine as a 4x Top Founder Friendly Investor and by Pitchbook research for being the global leader in Private Equity total deal volume. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has over $6 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services. For more information, including with respect to these awards and investment platforms, please visit: www.shorecp.com.
C2Dx is a Kalamazoo, MI-based medical device company that invests in and refines the delivery of valuable, niche products to propel their growth and accessibility worldwide. Started in early 2019 and founded by industry experts, C2Dx is committed to providing leading medical products and superior customer service while continually evolving to ensure that healthcare providers have the devices and technology they need. Backed by Shore Capital, C2Dx is supported by a World-Class Board of Directors, with deep experience across the medical device space, operations, and private equity. For more information, please visit: https://c2dx.com/