RoundTable Healthcare Partners Makes Investment in Vesta, Inc.
Partnership Provides RoundTable New Platform in
Silicone-based Medical Products
Lake Forest, IL, August 1, 2007 - RoundTable Healthcare Partners ("RoundTable"), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that it has acquired a majority interest in Vesta, Inc. ("Vesta"). Vesta, based outside Milwaukee, Wisconsin, is a leading supplier of silicone medical products to the OEM medical device industry. The Vesta management team, led by CEO Phil Estes, as well as owner-founders Chuck Heide and Glenn Hubbard, will retain a substantial ownership stake in the company and will continue to lead the management of the organization. Financial terms of the transaction were not disclosed.
"Vesta is an exciting new platform for RoundTable to add to
our growing list of medical-surgical companies," said Joseph
F. Damico, a Founding Partner of RoundTable and new Chairman of
Vesta. "The company manufactures an attractive portfolio of
silicone medical devices and accessories and provides a strong platform
for expansion. We have been very impressed with Vesta’s management
team and employees; they have an outstanding reputation for quality
and the execution of superior results. We look forward to working
with them."
"RoundTable is an ideal partner for Vesta," said Mr. Estes. "Their extensive background in the medical device industry and their strategic insight will be extremely valuable to Vesta as we continue to execute our growth strategy. We believe that RoundTable will be able to help accelerate Vesta's growth through their operational, strategic, and marketing experience, as well as through their strong relationships with key decision-makers in the healthcare industry."
Grace Matthews, Inc. advised Vesta on the transaction.
CONTACT:
Ben Scharff, Vice President
bscharff@gracematthews.com
(414) 278-1120