Nordic Capital Buys Orchid Orthopedic Solutions

Nordic Capital Fund IX is buying a majority ownership position in Orchid Orthopedic Solutions from Altor Fund III.

Orchid is a Holt, Michigan-based designer and manufacturer of orthopedic implants. Orchid’s top products include hip, knee, trauma, extremity, dental, and spinal implants along with single-use and multi-use instruments that are used in implant-related surgical procedures. Orchid has 12 manufacturing sites in the U.S., UK, Switzerland, and China. Orchid’s current management team will continue to lead the company following the acquisition.

Nordic Capital is a European healthcare investor with a strong track record of successful healthcare investments in North America. Since 1989, Nordic Capital has invested over 6 billion euros in healthcare platforms across Europe and North America.

Jonas Agnblad, partner and co-head of Healthcare at the advisor to Nordic Capital Funds, said, “We are impressed by Orchid’s strong management team and attractive position in the growing orthopaedic market, and look forward to supporting the company through its next phase of development. Orchid has a unique set of implant manufacturing capabilities across product categories, and is a true innovator simplifying and improving its customers’ supply chains. We are fully committed to supporting Orchid’s growth strategy in close partnership with management.”

Jerry Jurkiewicz, Orchid CEO, said, “We are very proud of our achievements during Altor’s tenure as our majority owner and are very excited to continue this journey with Nordic Capital as our new majority partner. We have transformed Orchid from a U.S. contract manufacturer to the leading global orthopedic implants design and manufacturing partner in the world.”

Jurkiewicz told OTW, “The early years with a new private equity sponsor are especially exciting since it is the time when the company will execute the majority of acquisitions. It really enables a rather rapid strengthening of our already strong portfolio.”