FOR IMMEDIATE RELEASE
Altus Capital Partners, Inc. Completes Tender Offer for MGC Diagnostics
Altus will support the company’s strategies for product innovation and growth
Wilton, CT, January 3, 2018 – Altus Capital Partners, Inc. (“Altus”), an investment firm focused on the North American manufacturing sector, announced the successful conclusion of the tender offer for all of the outstanding shares of common stock of MGC Diagnostics Corporation (“MGC”), a global medical technology company dedicated to cardiorespiratory health solutions, at a price of $11.03 per share.
MGC CEO Todd M. Austin commented, “We are excited about our new partnership with the Altus team. They understand and support our strategies for product innovation and growth. Their financial strength will also provide incremental funding for our product development pipeline initiatives and help to accelerate the delivery of new product offerings in 2018 and beyond.”
“MGC is well positioned in an exciting diagnostics sector, both domestically and increasingly in key international markets,” Altus Co-Founder and Senior Partner Gregory L. Greenberg said. “I look forward to working closely with a great management team, led by Todd Austin, as they continue to implement their growth strategy. At the same time, we will support the company’s ongoing investments in FDA-approved diagnostics products and software platforms.”
Through its Medical Graphics Corporation and Medisoft SA subsidiaries MGC develops, manufactures and markets non-invasive diagnostic systems. This portfolio of products provides solutions for disease detection, integrated care, and wellness across the spectrum of cardiorespiratory healthcare and are sold internationally through distributors and, in the United States, France and Belgium, primarily through a direct sales force targeting heart and lung specialists located in hospitals, university-based medical centers, medical clinics, physicians’ offices, pharmaceutical companies, medical device manufacturers, and clinical research organizations (CROs).
This is Altus’ second acquisition in 2017, after partnering with management to acquire Max Environmental Technologies, Inc., an integrated environmental solutions company, in February, 2017.
About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and seek to partner with the management teams of our operating companies to achieve growth. With offices in Wilton, CT and Lincolnshire, IL, Altus Capital Partners has completed 17 platform investments and numerous accretive add on acquisitions since 2003. For more information, please visit www.altuscapitalpartners.com/.
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