Welsh, Carson, Anderson & Stowe Completes Acquisition of Majority Position in K2M
LEESBURG, VA … August 19, 2010 – K2M, Inc. (“K2M” or the “Company”), a spinal device company developing innovative solutions for the treatment of complex spinal pathologies, and Welsh, Carson, Anderson & Stowe (“Welsh Carson”), a leading private equity firm, today announced the closure of a transaction in which Welsh Carson has acquired the outstanding stock and become the majority shareholder of K2M. The Welsh Carson investment will allow K2M to substantially grow its business to meet the high demand for its innovative product portfolio by expanding its worldwide sales force and accelerating the research and development of its next generation technologies.
“As a platform spine company, we have developed leading technologies to address the complex spine,” stated Eric Major, K2M’s President and CEO. “The closure of this strategic transaction with Welsh Carson will enable us to aggressively scale K2M in the global spine market. We are now primed to leverage the R&D efforts of the past six years to complete our tier one product portfolio. Our SERENGETI® Minimally Invasive Retractor System, which provides direct visibility through a flexible polymer retractor, is a prime example of a crossover technology we have developed at K2M to address both complex and degenerative pathologies.”
K2M, Inc. is an innovative spinal device company committed to the research, development, and commercialization of simplified solutions for the treatment of complex spinal pathologies and procedures. The company is recognized as a worldwide leader in providing unique technologies for the treatment of deformity, degenerative, trauma, and tumor spinal patients. K2M’s complete portfolio of next generation products includes: spinal stabilization systems, minimally invasive systems, and other advancing technologies, such as motion preservation, annular repair, and nucleus replacement. Additional information is available online at www.K2M.com.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe is one of the largest and most successful private equity investment firms in the United States. Since its founding in 1979, the Firm has organized 15 limited partnerships with total capital of $20 billion. Welsh Carson focuses its investment activity in two target industries: information/business services and healthcare. The Firm has invested approximately $5.7 billion of equity in over 70 healthcare portfolio companies during the last thirty-one years. Welsh Carson is currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P., and a dedicated subordinated debt fund, WCAS Capital Partners IV, L.P. Additional information is available online at www.welshcarson.com.
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