Morning Hubsters,
Happy Fri-yay! John R Fischer here with the US Wire from the New York newsroom.
As the number of surgeries increases, the demand for medical textiles such as wound dressings and implant textiles rises. Montagu, Kohlberg and Arlington Capital Partners are among the PE firms taking note of the momentum, pursuing deals in the sector. We explore this in my eight-deal listicle to start today.
For Friday Focus, we switch to fertility. Earlier this week, Amulet Capital Partners closed a continuation vehicle to recapitalize US Fertility, with StepStone Group as the sole lead investor.
We’ll close with a new hire at RoundTable Healthcare Partners.
Right materials
Rising surgical volumes and infection control concerns are driving demand for medical textiles. These are specialized materials that meet sterility and hygiene standards in healthcare settings. Uses for such textiles include hospital gowns, wound dressings, bandages and surgical implants, and demand is growing along with healthcare infrastructure.
PE firms have taken note of the increase in demand, pursuing deals in medical textiles and adjacent services like specialized laundering.
I rounded up eight deals in the segment going back to the beginning of 2026. Here are two excerpts:
Montagu and Kohlberg announced in August the closing of a $1.5 billion carve-out of Teleflex Medical OEM from medtech company Teleflex.
The agreement was announced in December and amounted to $1.25 billion after tax proceeds, according to Teleflex estimates.
Based in Plymouth, Minnesota, Teleflex Medical OEM develops medical textiles like fibers and sutures for surgical and orthopedic applications and implant materials. It also provides interventional catheter components and sub-assemblies and has seven state-of-the-art facilities across the US, Mexico and Ireland.
In July, Arlington Capital Partners announced the closing of a $1.45 billion sale of Riverpoint Medical to Novanta, PE Hub was the first to report in an exclusive.
The sale agreement was announced in June, with Novanta agreeing to pay $1.2 billion upfront in cash and a $250 million milestone payment in the first quarter of 2027.
Riverpoint is headquartered in Portland, Oregon, and develops and manufactures specialized surgical threads and consumables made of fiber-based, polymer and bioabsorbable materials. These materials are used in minimally invasive procedures, including sports injury repair, trauma and heart surgery.
Under Arlington, which invested in 2019, Riverpoint grew its revenue at a rate of nearly 20 percent CAGR consistently and more than tripled in size. It expanded company leadership, enhanced commercial capabilities, scaled manufacturing operations in the US and expanded into new markets via Costa Rica’s nearshore medical manufacturing hub. It also acquired CP Medical from Theragenics in 2024.
“Riverpoint has a very scarce capability that is in great demand among large OEMs, compared to a basic computer numerical control metal machine company that is more of a commodity manufacturer where capacity is much greater,” Arlington managing partner Matt Altman told PE Hub. “If you can deliver a scarce capability in a resilient way that can be depended upon by the OEMs, and you’ve got capacity to grow with your partners, that’s of great demand in terms of strategic interest and private equity.”
Beyond the completed deals in our listicle, more are coming. In July, GTCR announced that its portfolio company Corza Medical has agreed to sell its biosurgery business unit to EQT. Also included in the sale is the TachoSil product medical textile portfolio. The transaction is expected to close in Q4 2026.
Friday Focus
As people delay parenthood into their 30s and 40s, demand for egg freezing and other fertility procedures is on the rise. Aging can also bring reproductive challenges, pushing more people toward treatments such IVF. These procedures and others like genetic testing are often paid out-of-pocket rather than covered by insurance, which makes for attractive reimbursement. Combined with a fragmented market and resilience during downturns, the sector provides solid opportunities for private equity to back.
Earlier this week, Amulet Capital Partners announced the closing of a continuation vehicle to recap US Fertility, with StepStone Group acting as sole lead investor alongside other existing and new investors.
Headquartered in Rockville, Maryland, US Fertility is “a rare healthcare services platform with national scale, a deeply physician-aligned culture and a mission that matters to patients and families across the country,” said Amulet partner Sam Brinkley in a statement.
The company operates over 120 clinic and IVF laboratory locations and employs over 200 physicians. Amulet formed the business in 2020.
In 2025, L Catterton joined as a co-lead investor alongside US Fertility’s physician partners and management team. Later in the year, Amulet ran a CV-on-CV process for the company.
Amulet is also investing in the fertility market across the Atlantic, announcing in May the acquisition of TFP Fertility Group, a British and Polish network of fertility clinics and satellite referral centers, from Benefit Street Partners, a Franklin Templeton company.
The most recent CV deal by Amulet follows another transaction announced earlier this month by InTandem Capital Partners, whose portfolio company Ivy Fertility acquired Santa Barbara Fertility Center in California.
Valuable partner
Before I sign off, let’s look at new hire. RoundTable Healthcare Partners announced this week the appointment of Ed Jones as operating partner.
In this role, Jones will work with RoundTable’s investment and operating teams to help accelerate value creation at portfolio companies and help evaluate new investment opportunities.
Jones previously spent four decades at HealthTrust Performance Group, a business management consultant affiliated with HCA Healthcare, where he eventually served as president and chief executive officer for 14 years. There, he developed relationships across the healthcare ecosystem to drive value for hospitals and health systems.
Well, that’s it for me. As always, if you have any questions, comments or want to chat, drop me an email at john.fischer@pei.group.
Nina Lindholm is back on Europe duty on Monday, and Rafael Canton will follow with the US Wire.
Cheers,
John