Medical Devices Acquisitions in Michigan
Medical Device Deal Themes in Michigan
Michigan-based medical device acquisitions show a mix of platform-building and capability add-ons, spanning newborn care, clinical monitoring, sterile processing, consumables, ophthalmic devices, and oncology tooling.
Recurring buyers include Getinge, AirStrip, and Natus Sensory, alongside investor-backed operators such as Waud Capital Partners, Corza Medical (GTCR), and Protective Industries (Berwind). Many transactions connect to core themes like expanding product portfolios, strengthening clinical workflows, and extending manufacturing and reprocessing capabilities.
Deals also reflect Michigan’s role as a base for both innovators and suppliers—from Fraser, Grand Blanc, and Madison Heights to Grand Rapids—where targets range from FDA-cleared technologies and device portfolios to contract manufacturing and medical point-of-care workstations.
What Stands Out
- Clinical care expansion: Natus Sensory acquired TheraB Medical to broaden newborn care phototherapy options, and AirStrip acquired Fifth Eye to strengthen predictive hemodynamic monitoring.
- Infection-control and reprocessing focus: Getinge acquired Healthmark to complement sterile reprocessing equipment, consumables, and software.
- Portfolio buildout across specialties: ophthalmic disposables (Corza Medical / Barron Precision Instruments), musculoskeletal oncology (Onkos Surgical / JTS), and pediatric bone cancer reconstruction extendible prostheses.
- Michigan supplier depth: transactions include clean-room contract manufacturing (Medbio), pathology equipment and services (Mopec Group), and medical point-of-care workstations (Altus Industries).
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February 11, 2026
- Buyer
- Natus Sensory
- Target
- TheraB Medical
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Natus Sensory has acquired TheraB Medical, a medical technology company focused on neonatal jaundice treatment using wearable phototherapy. The deal expands Natus Sensory’s newborn care portfolio with SnugLit, a FDA-cleared swaddle-style phototherapy system designed to support family-centered care while delivering continuous therapy.
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- Buyer
- K5 Global, Bezos Expeditions, Wellington Management
- Target
- HistoSonics
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
HistoSonics, the developer of the Edison Histotripsy System, announced a management-led majority stake acquisition valuing the company at approximately $2.25 billion. The investment syndicate includes K5 Global, Bezos Expeditions, and Wellington Management, along with other new and existing investors such as Alpha JWC Ventures and Johnson & Johnson’s JJDC.
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June 3, 2025
- Buyer
- AirStrip
- Target
- Fifth Eye
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
AirStrip has acquired Fifth Eye, the developer of the FDA-cleared AHI System, integrating near real-time predictive hemodynamic instability monitoring into AirStrip ONE. The deal strengthens AirStrip's clinical surveillance and decision-support capabilities, enabling earlier intervention and improved patient safety across hospitals and health systems.
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- Buyer
- Viscogliosi Brothers, LLC, VB Spine, LLC, Viscogliosi Brothers Watermark Holdings, LLC, Barings, LLC, Texas Capital Bank
- Target
- Stryker's U.S. spine business
- Seller
- Stryker
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Viscogliosi Brothers, a New York–based family office, completed the acquisition of Stryker's U.S. spine business and will operate it as VB Spine, LLC. Financial partners Barings and Texas Capital Bank supported the transaction; VB Spine aims to grow the business, expand globally and retain access to Stryker technologies such as Mako Spine and Copilot.
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- Buyer
- Waud Capital Partners
- Target
- Mopec Group
- Seller
- Blackford Capital
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Waud Capital Partners has acquired Mopec Group, a Madison Heights, Michigan-based manufacturer and supplier of anatomic and forensic pathology equipment, consumables, and services, from Blackford Capital. The transaction will position Mopec to pursue accelerated growth and capability expansion as part of Waud’s Medical Device & Supply Services campaign; financial terms were not disclosed.
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October 11, 2023
- Buyer
- Getinge
- Target
- Healthmark Industries Co. Inc.
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Getinge (Gothenburg, Sweden) has acquired 100% of Healthmark Industries Co. Inc. (Fraser, Michigan, USA) for approximately USD 320 million, a deal that closed following the HSR waiting period. Healthmark, a maker of instrument-care and infection-control consumables with ~400 employees and expected FY2023 net sales of about USD 126 million, will complement Getinge’s sterile reprocessing equipment, consumables and software and accelerate Healthmark’s international expansion.
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March 28, 2023
- Buyer
- Eypex Corporation
- Target
- JustLight
- Seller
- JustLight
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Eypex Corporation has acquired all assets and IP of JustLight, including the Sunflower Smart Light Therapy lamp and related Smart Light Therapy and UV germicidal disinfection technologies. JustLight will be reorganized to operate independently under Eypex as the company expands from automotive lighting into consumer health and wellness products, with additional product commercialization planned over the next 18 months.
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August 22, 2022
- Buyer
- Fox Hill Capital, Inc.
- Target
- RG Enterprises (USA), Inc. (RG Medical Diagnostics)
- Seller
- Ron LeTourneau (majority shareholder), Rick Beauchamp (shareholder / controller), Other shareholders
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Fox Hill Capital, an acquisition vehicle formed by Ryder Stagg, has purchased RG Enterprises (USA), Inc. (doing business as RG Medical Diagnostics), a Michigan-based distributor of temperature-management medical devices and other healthcare products. The acquisition was executed as majority owner Ron LeTourneau exited into retirement; terms were not disclosed and Calder Capital acted as advisor to the sellers.
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- Buyer
- Onkos Surgical
- Target
- Juvenile Tumour System (JTS) extendible prosthesis
- Seller
- Stryker
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Divestiture
Onkos Surgical entered into a definitive agreement to acquire the Juvenile Tumour System (JTS) extendible prosthesis from Stryker. The device enables non‑invasive implant lengthening for pediatric bone cancer and limb reconstruction cases, and the acquisition expands Onkos's musculoskeletal oncology product portfolio and clinical capabilities.
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- Buyer
- Corza Medical, GTCR
- Target
- Barron Precision Instruments
- Seller
- Barron family
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Addon
GTCR-backed Corza Medical has acquired Barron Precision Instruments (BPI), a founder-owned manufacturer of disposable ophthalmic surgery devices based in Grand Blanc, Michigan. The add-on expands Corza's ophthalmology portfolio and manufacturing footprint, supporting its Corza Ophthalmology business unit and GTCR's continued buildout of the platform.
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November 23, 2021
- Buyer
- Protective Industries, Berwind Corporation
- Target
- Medbio LLC
- Seller
- Graham Partners
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Divestiture
Protective Industries, a Berwind operating company, has acquired Medbio LLC from Graham Partners. Medbio, headquartered in Grand Rapids, Michigan, is a clean-room contract manufacturer specializing in injection molding and assemblies for medical device, life sciences and biotech customers; the acquisition expands Protective Industries' medical device manufacturing capabilities while representing a portfolio exit for Graham Partners.
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September 15, 2021
- Buyer
- ADDvise Group AB
- Target
- Graham Medical Technologies, LLC (GraMedica)
- Seller
- Owner (Dr. Michael E. Graham)
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
ADDvise Group AB has acquired all outstanding shares of Graham Medical Technologies, LLC (GraMedica) in a deal that closed on September 15, 2021. The purchase price is approximately USD 5.8 million (USD 4.0 million initial payment plus up to USD 1.8 million in earn-outs); GraMedica reported 2020 revenue of about USD 3.35 million and adjusted EBITDA of approximately USD 0.85 million. The acquisition is intended to broaden ADDvise's medical equipment and consumables portfolio and expand its geographic reach.
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August 23, 2021
- Buyer
- Auxo Investment Partners, Spectrum Health Ventures
- Target
- Altus Industries Inc.
- Seller
- Craig VanderHeide, Eric Kahkonen
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Auxo Investment Partners has acquired Altus Industries Inc., a Grand Rapids-based designer and manufacturer of medical point-of-care workstations. Spectrum Health Ventures, a major Altus customer, is joining the transaction as a strategic partner as the deal forms part of the co-founders' succession plan.
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- Target
- Salter Labs
- Seller
- JZ Capital Partners Limited
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Divestiture
JZ Capital Partners Limited announced completion of the sale of its interest in Salter Labs, receiving net proceeds of approximately US$41.0 million (with a further approximately US$0.75 million placed in escrow subject to adjustments). The proceeds are intended primarily to repay around US$33.0 million to the Company's senior lenders, with the remainder applied in accordance with JZCP's investment policy and for general corporate purposes.
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June 18, 2021
- Buyer
- Cancer Diagnostics, Inc.
- Target
- Anatech Ltd.
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Cancer Diagnostics, Inc. (CDI), a Durham, North Carolina-based anatomic pathology products manufacturer, has acquired Anatech Ltd., a Battle Creek, Michigan-based supplier and manufacturer of anatomical pathology products. The acquisition expands CDI’s manufacturing capabilities, product offerings and control over production while Anatech will continue operating from its existing Battle Creek facility.
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February 24, 2021
- Buyer
- SpinTech, Inc. (SpinTech Imaging / SpinTech MRI)
- Target
- Magnetic Resonance Innovations, Inc. (MR Innovations)
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
Bingham Farms-based SpinTech, Inc. (doing business as SpinTech Imaging / SpinTech MRI) has acquired Detroit-based Magnetic Resonance Innovations, Inc. (MR Innovations). The deal brings MR Innovations' patents, published research, and technical team to SpinTech to accelerate product development, broaden imaging protocols and expand SpinTech's MRI software and hardware capabilities.
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February 3, 2021
- Buyer
- HORIBA, Ltd., HORIBA Instruments (HORIBA Instruments Incorporated)
- Target
- MedTest Holdings, Inc., MedTest Dx, Inc., Pointe Scientific, Inc., Clinitox Diagnostix, Inc., Medical Laboratory Solutions, Inc.
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Buyout
HORIBA, Ltd. (through HORIBA Instruments) acquired MedTest Holdings, Inc., including subsidiaries MedTest Dx, Pointe Scientific, Clinitox Diagnostix and Medical Laboratory Solutions, to expand HORIBA Medical's clinical chemistry and IVD reagent and instrument capabilities. The deal combines HORIBA Medical's Yumizen brand and distribution with MedTest/Pointe Scientific's R&D, manufacturing and regulatory (FDA 510(k)/CLIA) expertise to address multidisciplinary in‑vitro diagnostics (IVD) customer requirements.
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- Buyer
- Audax Private Equity
- Target
- Aspen Surgical
- Seller
- Hillrom
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Divestiture
Audax Private Equity has entered into a definitive agreement to acquire Aspen Surgical, a Hillrom business unit that manufactures branded and private-label single-use surgical consumables. Aspen Surgical is headquartered in Caledonia, Michigan with operations in Caledonia and Las Piedras, Puerto Rico, and employs approximately 500 people; the transaction is a divestiture of the surgical consumables business from Hillrom to Audax.
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February 20, 2019
- Buyer
- Medbio, LLC, Graham Partners
- Target
- AIM Plastics, Inc.
- Seller
- Founder-owners of AIM Plastics
- Industry
- Medical Devices
- Location
- Michigan, United States
- Type
- Addon
Medbio, a Graham Partners-backed contract manufacturer headquartered in Grand Rapids, Michigan, has acquired AIM Plastics, a founder-owned injection-molding manufacturer based near Detroit. The add-on strengthens Medbio's manufacturing capacity, tooling capabilities and customer/end-market diversification as part of Graham Partners' strategy to build a premier medical device manufacturing platform.
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Frequently Asked Questions
Which buyers appear most often in Michigan medical devices acquisitions?
Several recurring names show up, including Getinge, AirStrip, Natus Sensory, Medbio, LLC, Waud Capital Partners, Auxo Investment Partners, and Protective Industries (Berwind).
What kinds of medical device capabilities are most commonly targeted in Michigan?
The page highlights acquisitions centered on clinical monitoring and decision support, newborn care phototherapy, sterile processing and infection-control consumables, ophthalmic disposables, oncology products, and medical equipment/manufacturing services.
Are these deals limited to a single part of Michigan?
No. The listed transactions include targets located across Michigan, such as Grand Rapids, Fraser, Grand Blanc, and Madison Heights, with deal activity framed as expanding portfolios and operational capabilities.
Do the acquisitions include both devices and related services or consumables?
Yes. Examples include consumables and infection-control products (Getinge / Healthmark), contract manufacturing and assemblies (Protective Industries / Medbio), and equipment/services supplies like anatomic and forensic pathology equipment (Waud Capital Partners / Mopec Group).