Audax seals $170m buyout of Hillrom scalpel, wound care business Aspen Surgical

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Audax Private Equity has agreed a $170m buyout of the surgical consumables business of medtech major Hillrom.

The company, Aspen Surgical, provides single-use surgical products such as scalpels, blades, wound care, fluid control, and other patient safety surgical items.

Audax managing director Young Lee said, “We have acquired a set of products and brands that we believe are best in breed and standard of care.

“The company has historically grown both organically and through acquisitions, and we are thrilled to join them as we continue to build on past successes.”

Kirkland & Ellis served as legal counsel to Audax. Goldman Sachs & Co acted as exclusive financial advisor to Hillrom on the transaction and Jones Day acted as legal advisor.

Audax closed its sixth flagship fund on $3.5bn in September last year. The firm previously bagged $2.25bn for the final close of Fund V in November 2015.

The firm has raised more than $25bn across its private equity and debt business arms since it was founded in 1999.

Recent deals by Audax include investing in AI-driven customer engagement software platform Astute.

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