AVON, Conn., Jan. 2, 2024 — Constitution Surgery Alliance (CSA), a leading developer and operator of outpatient surgery centers, has announced that Hartford HealthCare Rocky Hill Surgery Center in Rocky Hill, CT, has been named to The Leapfrog Group’s prestigious “Top Ambulatory Surgery Center” list. This award is in recognition for the ambulatory surgery center’s clinical outcomes and processes that protect patients from harm and preventable medical errors. Only 27 ambulatory surgery centers in the nation were named to the list this year.

Hartford HealthCare Rocky Hill Surgery Center opened in 2019 in partnership with Hartford HealthCare, CSA and 13 local surgeons who specialize in ophthalmology surgery including cataracts, glaucoma and advanced retinal procedures.  Every one of Hartford HealthCare’s seven acute care hospitals earned an “A” rating from Leapfrog for safety in the most recent 2023 rankings. “We celebrate the meaningful progress HHC and our partners at the Hartford HealthCare Rocky Hill Surgery Center have made to transform care and advance access, affordability, equity, and excellence for the patients and communities we serve,” said Karen Goyette, Executive Vice President and Chief Strategy and Transformation Officer for Hartford HealthCare.

“Congratulations to Rocky Hill Surgery Center for being awarded one of the top 2023 ASCs in the U.S.! The entire team greatly deserve this recognition for our commitment to patient safety and outcomes.” said Geoffrey Emerick, MD, the center’s Medical Director.

The Leapfrog Group is an independent watchdog organization focused on health care quality and safety. The “Top Ambulatory Surgery Center” award is based on excellence in upholding quality standards across several areas of patient care including staffing, hand hygiene, infection rates, practices for safer surgery and error prevention. “This recognition is one of the toughest awards in the industry to earn. ASCs that receive this award have demonstrated an incredible commitment to patient safety and their community,” Leah Binder, president, and CEO of The Leapfrog Group.

Facility administrator Lorie Duzan has been with the Hartford HealthCare Rocky Hill Surgery Center since the facility opened. “Our surgeons and staff are the front-line champions who create a center focused on patient safety,” she said. “Their investment in fostering a culture of high reliability, transparency and excellence sets the tone for the entire team and translates into our daily operational performance.”

About Hartford HealthCare

With 37,000 colleagues, Hartford HealthCare’s unified culture enhances access, affordability, equity, and excellence. Its care-delivery system, with more than 500 locations serving 185 towns and cities includes two tertiary-level teaching hospitals, an acute-care community teaching hospital, an acute-care hospital and trauma center, three community hospitals, a behavioral health network, a multispecialty physician group, a clinical care organization, a regional home care system, an array of senior care services, a mobile neighborhood health program and a comprehensive physical therapy and rehabilitation network. HHC continues to receive national recognition for providing best-in-class quality and safety for all patients. Recently, Hartford HealthCare earned a perfect “A” grade for safety from Leapfrog at every HHC hospital, an accomplishment no other health system in the Northeast achieved. Visit Hartford HealthCare at HartfordHealthCare.org

About CSA

CSA is a leading developer and operator of outpatient surgery centers. Over the past 25 years, CSA has developed 26 surgery centers, including 15 hospital joint ventures, and has partnered with more than 500 surgeons and physicians. CSA’s surgery centers encompass 100-plus operating rooms that complete more than 100,000 surgical cases each year. For more information about Rocky Hill Surgery Center or other CSA award winning ASCs, please visit CSAsurgery.com

About The Leapfrog Group

Founded in 2000 by large employers and other purchasers, The Leapfrog Group is a national nonprofit organization driving a movement for giant leaps forward in the quality and safety of American health care, so consumers make informed decisions about their health and access safe, high-value care. For more information, please visit leapfroggroup.org

SOURCE Constitution Surgery Alliance

CardioMech received strong support by investors despite challenging environment because of its potential to be a category-defining Chordal Repair technology

MINNEAPOLIS, Jan. 2, 2024 — Norway-based CardioMech AS, a medical device company developing a transfemoral, transseptally delivered mitral valve chordal repair technology in Fridley, MN, today announced it has closed on $13M in fresh capital ($42M to-date). CardioMech received strong financial support from existing and new investors, including a non-disclosed strategic investor.

The heavily oversubscribed round further demonstrates investors’ expectations that Chordal Repair may be a first-line therapy for Degenerative Mitral Regurgitation patients and, particularly for CardioMech, confidence that CardioMech can lead the market.

The CardioMech device is an artificial chord that is designed to reduce or eliminate regurgitation and to restore the native anatomy. This catheter-based therapy is intended to be a simple and straightforward procedure and an alternative therapy option for both patients eligible for open-heart surgery and those considered surgically ineligible. Therefore, the CardioMech device can potentially reduce the need for open-heart surgery and may lessen the need for watchful waiting in younger and healthier patients.

Mitral Regurgitation is the third most common cardiovascular disease that occurs when there is backward flow of blood across the mitral valve. It is highly prevalent, debilitating for patients, and deadly if untreated. The market is expected to be larger than the TAVR market, currently a $6B market.

“I am thrilled to continue building on a successful long-term collaboration with our existing investors in the development of this technology, as well as to partner with new individual investors that truly believe in this team and this technology,” said Rick Nehm, President, CEO and Chairman of the Board of CardioMech. “We are working together to achieve our objective to significantly improve the standard of care for the millions of patients suffering from degenerative mitral regurgitation.” 

“There is a significant need for a less-invasive technology that can eliminate mitral regurgitation in younger and healthier patients and Norwegian- born CardioMech is developing a category-defining technology that may benefit patients suffering from mitral regurgitation around the world,” said Jacob Bergsland, MD, Founder of CardioMech. “CardioMech has the right technology, the right team, the right partners in the right market and we are excited to develop this profound technology.”

About CardioMech: CardioMech AS, a privately held company, is developing its transcatheter mitral valve chordal repair technology. Caution: Investigational device. Limited by law to investigational use. 

SOURCE CardioMech

Leading dairy products brands projected to benefit from Platinum Equity’s carve-out experience and operational expertise

LOS ANGELES, Jan. 1, 2024 — Platinum Equity today announced the signing of a definitive agreement to acquire Horizon Organic and Wallaby from Danone.

Horizon Organic is the largest USDA-certified organic dairy brand in the world and is a pioneer in dairy beverages, having introduced the first organic milk available coast to coast in the United States in 1991. Horizon Organic’s portfolio of organic dairy products includes milk, creamers and whiteners, yogurt, cheese and butter.

The proposed acquisition also includes the Wallaby brand, an Australian-inspired Greek-style yogurt made with organic milk and premium ingredients.

“Horizon Organic is an iconic name in dairy that is well recognized and beloved by consumers,” said Platinum Equity Co-President Louis Samson. “The brand has earned a reputation for quality and innovation that is unmatched in the industry. We appreciate Danone’s confidence in our ability to build on that legacy and support Horizon Organic’s growth as a standalone company.”

The US dairy category is estimated at $68 billion with milk comprising approximately $17 billion of that total.  

“Premium offerings, including organic and value-added products, are driving the growth in the dairy milk category,” said Platinum Equity Managing Director Adam Cooper. “Horizon Organic is a pioneer of that segment and is in position to continue capitalizing on and accelerating the trend.”

Platinum Equity has decades of experience acquiring and operating global businesses that have been part of large corporate entities. The firm recently announced the pending acquisition of Kohler Energy from Kohler Co. In recent years Platinum Equity has also acquired businesses from firms like Ball Corporation, Caterpillar, ConAgra, Emerson Electric, Ingersoll Rand and Johnson & Johnson, among others.

“We are excited about Horizon Organic’s potential as an independent business with a renewed sense of focus and a commitment to investing in its success,” said Cooper. “We have a lot of experience supporting food and beverage businesses. We look forward to partnering with Horizon Organic’s management team to ensure a seamless transition and chart a path for continued growth and expansion.”

Platinum Equity’s current portfolio includes Biscuit International, a European manufacturer of private-label sweet biscuits, wine producer Fantini Group Vini and seafood provider Iberconsa. Previous Platinum Equity investments include JM Swank, a food ingredients distributor acquired from ConAgra, and Harvest Meat Company, a US distributor of packaged meat and bakery products.

The proposed acquisition of Horizon Organic and Wallaby is subject to customary closing conditions and regulatory approval.

Morgan Lewis is serving as legal advisor and Alston & Bird is serving as debt financing counsel to Platinum Equity.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About Danone (www.danone.com)
Danone is a leading global food and beverage company operating in three health-focused, fast-growing and on-trend categories: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition. With a long-standing mission of bringing health through food to as many people as possible, Danone aims to inspire healthier and more sustainable eating and drinking practices while committing to achieve measurable nutritional, social, societal and environment impact. Danone has defined its Renew strategy to restore growth, competitiveness, and value creation for the long-term. With 100,000 employees, and products sold in over 120 markets, Danone generated €27.7 billion in sales in 2022. Danone’s portfolio includes leading international brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino, evian, Nutricia, Nutrilon, Volvic, among others) as well as strong local and regional brands (including Aqua, Blédina, Bonafont, Cow & Gate, Mizone, Oikos and Silk). Listed on Euronext Paris and present on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is a component stock of leading sustainability indexes including the ones managed by Moody’s and Sustainalytics, as well as the Ethibel Sustainability Index, the MSCI ESG Indexes, the FTSE4Good Index Series, Bloomberg Gender Equality Index, and the Access to Nutrition Index. Danone’s ambition is to be B-Corp certified at global level in 2025.

About Horizon Organic^®
Horizon Organic has been producing great-tasting organic milk since 1991. From the start, Horizon has remained committed to protecting a healthy planet and hasn’t stopped working toward raising the bar as a leading organic milk producer in the U.S. In 2017, Horizon Organic became a brand of Danone North America. Today, Horizon works with more than 600 family farmers across the U.S. For more information on Horizon’s full portfolio of organic dairy products, visit Horizon.com.

Contacts:

Dan Whelan
Platinum Equity
[email protected]

SOURCE Platinum Equity