Compass Group Invests in Spinal Implant Distributor
St. Louis-based Compass Group Equity Partners (“Compass Group”) announced a strategic partnership with New Age Medical (“New Age”), a leading value-add distributor of spinal implants and orthopedic products to ambulatory surgery centers, hospitals, and hospital systems throughout the Midwest.
“The opportunity to partner with two visionary entrepreneurs who are first market-movers is the exact partnership Compass Group seeks. They identified a need in their industry and filled the void,” said Chris Gibson, Compass Group Managing Director.
Since its inception in 2012, co-founders Kevin Bly and Bret Brody positioned the company early on amongst ambulatory surgery centers, hospitals, hospital systems, OEMs, surgeons, and distributors to alleviate supply chain burdens in the highly fragmented industry. “Bret and I found ourselves at a critical inflection point in the growth of our business and, fortunately, we were able to identify Compass Group as the best partner to help us move forward to reach our goals of delivering exceptional value to our stakeholders,” said Bly.
As a vendor of record in key ambulatory surgery centers, hospitals, and hospital systems, New Age allows coveted account access for small and medium-sized OEMs, while also providing surgeons access to cutting-edge technologies. Unmatched by even the largest OEMs, New Age’s extensive OEM product portfolio with both established and innovative products presents a “one-vendor” solution that is becoming increasingly more attractive to all sites of surgical care. Key stakeholders rely on New Age's extensive portfolio and highly specialized clinical reps to support surgeons and clinical staff in the operating room to ensure successful surgical outcomes. “Kevin and I are very excited with the opportunity to add more highly experienced partners with the help and support of Compass Group,” said Brody.
“With investments in infrastructure and business development, Kevin and Bret will have a platform to grow New Age nationally,” said Chris Gibson. “The Compass Team is excited to partner with New Age and assist in executing Kevin and Bret's vision for the company’s next phase of growth.”
Additional investment for the transaction came from Compass Group partners SunGate Capital, Aldine Capital, and Olympus Ventures.
About New Age Medical
Based in Chesterfield, Missouri, New Age Medical (“New Age”) is a leading value-add distributor of spinal implant and orthopedic products to ambulatory surgery centers, hospitals, and hospital systems throughout the Midwest.