“UltraStream provides clinicians with an innovative tool to improve care and quality of life for their patients,” commented George Leondis, President of Argon. “This unique technology broadens our dialysis platform and highlights our commitment to this growing disease state.”

The UltraStream Chronic Hemodialysis catheter is the only Chronic Dialysis catheter available with innovative dual lumen arterial lines and a modified step tip design that allow for high flow rates and ease of insertion, providing the combination of clinician satisfaction and improved patient outcomes. This exclusive step tip design allows for placement, both over the wire, and through a peel-away sheath. The seamless transition from the dilator to the step tip facilitates easier catheter exchanges.

UltraStream catheters are provided in a variety of set configurations to meet physician preferences.

There are currently over 571,000 patients diagnosed and treated for End-Stage Renal Disease, with over 116,000 newly diagnosed patients in 2009.* This 3.5% increase in ESRD is the highest since 2000.

About Argon

Argon Medical is a global manufacturer of specialty medical products headquartered in Plano, Texas. We offer a broad line of medical devices for Interventional Radiology, Vascular Surgery, Interventional Cardiology, and Critical Care procedures. Our newest products include the Option(TM) Retrievable Inferior Vena Cava Filter, Cleaner Rotational Thrombectomy System, and UltraStream Chronic Dialysis Catheter. We also offer complete lines of PICC and midline catheters, endomyocardial biopsy forceps, introducer sheaths, pressure transducers, and other vascular products. Our products are sold globally through a combination of direct sales representatives and premier distributors.

About Roundtable

RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified health-care companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise.

About Rex

Rex Medical, LP, based in Conshohocken, PA, is a privately held medical device company specializing in the development, manufacturing and marketing of minimally invasive medical devices targeted towards the cardiovascular, venous access, endosurgery and oncology markets.

* 2011 USRDS Annual Data Report – United States Renal Data System

Argon Medical designs, manufactures and sells single-use specialty medical device disposables and in September 2010 acquired the critical care business of Becton, Dickinson (“BD”).

Dr Terry O’Brien,CEOof LiDCO, commented:  ”We are delighted to sign this agreement with Argon Medical and commence the regulatory approval process for the Japanese market.  Minimally invasive hemodynamic monitoring is becoming well established in Japan and the Board believes that the Japanese hemodynamic monitoring high risk surgery market has a potential market value of US$285 million per annum, with reimbursement available.  Through our partnership with Argon Medical Devices Japan, LiDCO will be well positioned to capitalize on this.”

George Leondis, President of Argon Medical Devices, Inc added:  ”We are very pleased to again collaborate with LiDCO. Our partnership on this groundbreaking technology is a significant step forward in the growth of Argon’s Critical Care business in Japan.”

About LiDCO Group Plc

LiDCO is a supplier of minimally invasive hemodynamic equipment to hospitals, to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO’s products facilitate the application of hemodynamic optimization protocols for high risk patients in both critical care units and in the operating theatre.

Increasingly clinical studies are showing that the optimization of patients’ hemodynamic status in high risk patients produces better outcomes and reduced hospital stay.  LiDCO’s computer-based technology, developed at St Thomas’ Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.

“We are very pleased with the addition of Option™ to our product portfolio. This proven technology has rapidly become a leader in this disease segment due both to its efficacy and safety, and we are confident it will prove to be the preferred device of its kind,” said George A. Leondis, President of Argon Medical Devices, Inc. “This partnership provides a compelling strategic opportunity for Argon, allowing us to provide our customers with another best in class product in the Interventional arena.”

“Rex Medical is looking forward to again collaborating with Argon, on this innovative and pivotal technology,” commented Lindsay L. Carter, President of Rex Medical, LP.  “Argon’s focused commitment to its customerbase, coupled with its global sales and marketing presence and corresponding operational capabilities, make it the ideal partner.”

Argon will be exhibiting at the 36th Annual Society of Interventional Radiology (SIR) Scientific Meeting, to be held in Chicago, IL from March 27-30, 2011.

About the Option™ Inferior Vena Cava Filter

The nitinol, Option™ IVC Filter, with a low profile 5Fr (6.5Fr O.D.) delivery system, is designed to be implanted into the inferior vena cava of patients to prevent recurrent PE. The filter is designed with symmetric flared struts to direct clot volume into the center of the vessel for maximum dissolution and preservation of blood flow allowing for capture of clinically significant clot and protection against PE. Designed as both a permanent or retrievable implant, this self-centering IVC filter promotes optimal positioning and stability within the inferior vena cava. Its intuitive, easy-to-use design, makes Option’s™ deployment and retrieval safe and effective.

About Pulmonary Embolism (PE)

PE is an extremely common and highly lethal condition that is a leading cause of death in all age groups. PE is the sudden blocking of an artery of the lung (pulmonary artery) by a collection of solid material transferred through the bloodstream (embolus)—usually a blood clot (thrombus) or rarely other foreign material. PE occurs when these clots break loose and embolize to block pulmonary blood vessels in the lungs. PE affects an estimated 600,000 to 1,000,000 people in the US, and its incidence is increasing annually due mainly to the aging population. According to clinical research, if left untreated, PE has a mortality rate of 30% and is a leading cause of in-patient deaths in U.S. hospitals. Emboli dislodgement can be caused by peripheral vascular disease (PVD), severe deep vein thrombosis (DVT), trauma and, prolonged immobilization often following major surgical procedures.

About Argon

Argon Medical Devices, Inc., based in Athens, TX, is a privately-held global medical device company which manufactures and markets solutions for cardiovascular, venous access and critical care procedures. The current product portfolio includes Cleaner™ Rotational Thrombectomy System, JAWZ™ Endomyocardial Biopsy Forceps, and the soon to be released, UltraStream™ Chronic Dialysis Catheter. Argon is a portfolio company of Roundtable Healthcare Partners.

About Roundtable

RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified health-care companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise.

About Rex Medical, LP

Rex Medical, LP, based in Conshohocken, PA, is a privately held medical device company specializing in the development, manufacturing and marketing of minimally invasive medical devices targeted towards the cardiovascular, venous access, endosurgery and oncology markets. Rex Medical is ISO 13485 certified.

Argon exhibited at the recent 37th Veithsymposium™ to be held in New York City.

“The addition of UltraStream™ reinforces our commitment to providing physicians with innovative products focused on improving patient care,” said George A. Leondis, President of Argon Medical Devices, Inc. “We are excited about this opportunity to further enhance our portfolio of products for use in the area of dialysis access, which also includes the Cleaner™ Rotational Thrombectomy System.”

There are over 500,000 patients currently undergoing treatment in the U.S. for End-Stage Renal Disease (ESRD). It is estimated that the dialysis patient population will continue to grow at a rate exceeding 6% annually.

About Argon

Argon Medical Devices, Inc., based in Athens, TX, is a privately-held global medical device company which manufactures and markets solutions for cardiovascular, venous access and critical care procedures. It is a portfolio company of Roundtable Healthcare Partners.

About Roundtable

RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified health-care companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise.

About Rex Medical, LP

Rex Medical, LP, based in Conshohocken, PA, is a privately held medical device company specializing in the development, manufacturing and marketing of minimally invasive medical devices targeted towards the cardiovascular, venous access, endosurgery and oncology markets.

CONTACT: Christian Chilcott of Argon Medical Devices, Inc., Phone: +1-903-675-9321  email: christian.chilcott@argonmedical.com

 LAKE FOREST, IL, October 4, 2010 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the health-care industry, announced today that its portfolio company, Argon Medical Devices, Inc. (“Argon”), has acquired the critical care and extended dwell catheter product platforms consisting of blood pressure monitoring devices, and central venous, pulmonary artery and extended dwell catheters from BD (Becton, Dickinson and Company).  Argon is a global manufacturer and marketer of single-use specialty medical devices for procedures in Interventional Radiology, Interventional Cardiology, and Critical Care.

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^TM 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.

Argon and Rex Medical will be exhibiting at the 34^th Annual Meeting of the Society of Interventional

Radiology (SIR) to be held in Tampa, FL from March 14-17, 2008.

“We are excited to partner with Rex Medical on this innovative technology. Preserving dialysis access is one of the most challenging therapeutic issues within the vascular access arena. The launch of Cleaner will provide a fast, effective method for declotting occluded vessels and grafts,” said George Leondis, President of Argon Medical. “This is a significant step forward in Argon’s strategy to provide unique solutions to the interventional space, and we are confident this ‘best in class’ product will quickly become a leading technology in this fast-growing market segment.

About the Cleaner™ Rotational Thrombectomy System

Cleaner™ technology is an ergonomically designed, percutaneous 6Fr catheter based system (single piece construction) that is compatible with a 6Fr introducer sheath. A disposable, battery operated hand held drive unit is attached to a wire and rotates at a low speed (4000 RPM). The distal, sinuous shaped tip of the wire facilitates atraumatic mechanical declotting of occluded native vessel fistulae and synthetic dialysis access grafts. The outer catheter distal tip and sinuous wire segment are both radiopaque for fluoroscopic visualization.

According to the company, Cleaner™ technology provides the physician base with superior trackability and steerability. This quiet and easy to use system has the ability to effectively operate, negotiate and macerate thrombus around the graft apex and opposing sheath

 There are over 500,000 patients currently undergoing treatment in the U.S. for End-Stage Renal Disease (ESRD). In addition, over 300,000 procedures are being performed annually in the U.S. to repair and clear thrombosed hemodialysis access grafts and fistulae. It is estimated that the dialysis patient population will continue to grow at a rate exceeding 6% annually.

About Argon

Argon Medical Devices, Inc. based in Athens, TX, is a privately-held global medical device company which manufactures and markets solutions for cardiovascular procedures. It is a subsidiary of ACI Holdings, a portfolio company of Roundtable Healthcare Partners

 About Roundtable

RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified health-care companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise.

 About Rex Medical, LP

Rex Medical, LP, based in Conshohocken, PA, is a privately held medical device company specializing in the development, manufacturing and marketing of minimally invasive medical devices targeted towards the cardiovascular, venous access, endosurgery and oncology markets.

Argon, based in Athens, Texas, manufactures, assembles and markets specialty vascular access and pressure-monitoring devices utilized in the cardiology, radiology and critical care market segments. The Argon™ brand of advanced single-use components includes guidewires, needles, sheath introducers, catheters, manifold kits, transducers and control syringes.

“We are very excited about Argon as a new platform investment within the attractive cardiovascular product industry,” said Joseph F. Damico, Founding Partner of RoundTable and new Chairman of Argon. “Argon has established a recognized and valued brand name in the marketplace, and a track record of solid and consistent financial performance. We intend to devote greater resources to the business and to increase focus on our customers.”

One of the first actions taken by RoundTable was to bring in an experienced health-care executive to provide the leadership for Argon’s growth. Paul L. Mooney has been named the new President and Chief Executive Officer for Argon. Mr. Mooney has more than twenty (20) years of operating and marketing experience with some of the nation’s leading healthcare companies, namely Cardinal Health, Allegiance Healthcare, Baxter International, and American Hospital Supply. “Argon will benefit from the increased resources of RoundTable,” said Mr. Mooney. “RoundTable’s industry contacts and relationships, their operating expertise, and their access to capital for additional investments will significantly enhance the growth prospects we have for Argon overall.”

RoundTable’s investment strategy targets companies in the healthcare industry that fall within the expertise and experience of the firm’s operating principals. Argon marks RoundTable’s fifth platform investment since the firm’s formation in 2001. Other companies in the RoundTable portfolio include:

• MedAssist Holding, Inc., a leading outsourced provider of patient eligibility, accounts receivable management and collections services to acute care hospitals throughout the United States,
• American Medical Instruments Holdings, Inc., a specialty medical device company,
• Sabex, Inc., a leading manufacturer and distributor of generic injectable pharmaceuticals, and
• Vanguard Medical Concepts, Inc., the nation’s leading medical device reprocessor.

“The Argon acquisition is an excellent example of our strategy in action,” said Lester B. Knight Founding Partner of RoundTable. “We continue to utilize our knowledge, experience and relationships to successfully identify and invest in our targeted healthcare market segments. By capitalizing on our strong operating expertise, we then partner with our companies’ management teams to maximize their growth and profitability.”

RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified health-care companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.       Contacts   Betty Rasbid
847.739.3200 ]]> http://www.argonmedical.com/2003/roundtable-healthcare-partners-closes-on-acquisition-of-argon-medical-devices-inc/feed/ 0