Healthcare-focused private equity firm Linden Capital Partners has expanded its Chicago diagnostics and life science tools team by hiring Bill Rhodes as operating partner.
Rhodes, pictured, joined Chicago-based Linden from medical supplies, devices and technology company Becton, Dickinson and Company following 16 years at the business.
He was most recently senior vice president of corporate strategy and development at the company, and was previously worldwide president of the $1.4bn BD Biosciences venture capital arm.
Rhodes said, “As I considered the next stage of my career, private equity was of keen interest.
“Linden stood out among its peers for its unique strategy of focusing only on healthcare – with a sub-sector focus on diagnostics and life science tools – and integrating healthcare and financial executives throughout its investment process, from sourcing to value creation to exit.”
Linden managing partner Brian Miller said, “We are honored that Bill chose to join Linden.
“Executives with Bill’s integrity, experience, technical knowledge and relationships in the healthcare market are rare.
“Bill will help drive Linden’s continued success in partnering with healthcare executives to build exceptional value for our companies, employees and investors.”
Linden’s last reported deal was December’s purchase of US dental equipment maker Young Innovations in a take-private deal worth $314m.
The $39.50 a share deal for the Nasdaq-listed company represented a 12.5 per cent premium to the 30-day average closing stock price, and was unanimously agreed by the company’s board of directors.
Linden raised $375m for its second buyout fund in 2011.
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