MINNEAPOLIS, June 2, 2021 – Arcline Investment Management (“Arcline”), a growth-oriented private equity firm, today announced that it has acquired a controlling stake in Resolution Medical, LLC (the “Company”) from founders Steve Schmidt and Shawn Patterson.
Resolution Medical is an end-to-end contract development and manufacturing organization (CDMO) focused on complex, rapidly growing medical technology segments, including structural heart, neuromodulation, heart failure, electrophysiology, oncology, and ENT. The Company’s capabilities include device design, prototyping, regulatory support, system development, and commercial-scale manufacturing. Known for its rapid development timelines, highly experienced engineers, and deep clinical anatomical expertise, Resolution Medical is a partner to many of the world’s leading medical device startups and multinational OEMs. Mr. Schmidt and Mr. Patterson, experienced medical device executives with prior tenures at Greatbatch Medical, will continue to be significant investors in the Company. Luke Johnson, former CEO of GI Supply and senior commercial leader at Medtronic and Hill-Rom, will be joining them as Executive Chairman. The existing Resolution Medical senior leadership team will remain in place and continue to lead the Company.
Arcline commented, “We are excited to partner with Steve, Shawn, Luke, and the broader Resolution Medical team to continue building a leading CDMO platform serving the most complex and highest-growth therapeutic and diagnostic technologies. Steve and Shawn have built a world-class organization and a customer-centric culture that is consistent with the qualities that Arcline looks for in our investments.”
Mr. Schmidt added, “Arcline’s growth mindset and collaborative approach to working with their portfolio companies makes them the ideal financial partner for Resolution Medical’s next phase of growth. We look forward to working with Arcline and Luke to continue growing this great business.”
Culper Capital Partners, led by Adam Cook, will be a minority investor in the Company.