Altor Fund III has signed an agreement to acquire Orchid Orthopedic Solutions from Churchill Equity.
Orchid is a supplier of design and manufacturing services of implants and instruments for the orthopedic and dental markets, and is said to have long-term relationships with most of the leading medical device OEMs in the industry.
According to Altor, the acquired company provides innovative design and development, implant and instrument manufacturing, advanced machining, plastics technology, implant coatings and surface treatment and packaging services.
Working in partnership with medical device OEMs around the world, Orchid is able to leverage the lean principles of single-piece flow, waste minimisation and process simplification. Similarly, Orchid is said to offer the best total supply-chain value and the ability to bring technology products to market rapidly.