Lake Forest, Ill.-based RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, announces that it has established Healthcare Components Group (HCG) through the acquisitions of American Optics and Replacement Parts Industries (RPI). Both American Optics and RPI focus on serving independent service organizations who contract with acute care facilities, ambulatory surgical centers, and physician and dental offices to conduct repairs of mission critical medical devices.
American Optics, headquartered in Wellesley, Mass., is an engineering, manufacturing, assembly, and distribution business for replacement components used in the repair of flexible and rigid endoscopes and new components used by original equipment manufacturers in endoscope manufacturing.
Moreover, RPI, headquartered in Simi Valley, Calif., engineers, manufactures, and distributes parts for medical, hospital, dental, and laboratory equipment. Larry Hicks, the current CEO of American Optics, will lead the new company and serve on the board of directors, and Ira Lapides, the president and CEO of RPI, will continue to lead RPI’s day-to-day operations.
“The creation of HCG through the acquisitions of American Optics and RPI establishes an excellent foundation for us to build upon,” says Tom Kapfer, RoundTable managing partner, and the new chairman of the board for HCG. “As a combined entity, HCG will provide a diverse and broad product offering to its customer base. We see a clear opportunity for growth driven by anticipated increases in procedure volumes and a focus on serving ISOs who represent the fastest growing segment of the repair market.”
Hicks also spoke out about the acquisition, commenting: “We are thrilled to combine these businesses to form Healthcare Components Group. Our entire team is excited to partner with RoundTable and believe the firm’s unique operating and transaction expertise will be instrumental as we build a market leading player in the niche replacement and repair parts space.”