Confluent Medical Announces Closing of Majority Investment From TPG

Partnership to provide capital and expertise to further strengthen company’s leadership as trusted medical device manufacturer

Confluent Medical Technologies (“Confluent”), a leading materials science, development, and manufacturing partner to medical device manufacturers, today announced the closing of a majority investment from TPG Capital, the private equity platform of alternative asset management firm TPG.

On January 5, 2022, Confluent Medical announced that TPG Capital had signed a definitive agreement to acquire a majority stake in the company. TPG Capital joins existing investor Ampersand Capital Partners (“Ampersand”), which has retained a substantial minority interest in Confluent.

“With the support of TPG and Ampersand, we are well positioned to build on our mission to serve as a trusted partner to the medical device industry dedicated to integrity, exceptional quality, and operational excellence,” said Dean Schauer, President, and CEO of Confluent. “As we enter our next chapter, we look forward to continue expanding and building upon our current capabilities in complex Nitinol devices and implants, balloon and complex catheters, Cobalt chrome implants, and implantable textiles, while also expanding into new technical areas.”

Confluent is the leader in Nitinol-based medical component development and manufacturing, leveraging its complex design expertise, proprietary supply of high purity Nitinol, and manufacturing capabilities to deliver innovative, high-quality products. Throughout its lifetime, the company has evolved from a leading provider of Nitinol devices and components into a multi-capability organization specializing in the prototyping, design, development, and manufacturing of life saving implants, delivery systems, and other medical components for neurovascular, electrophysiology, structural heart, peripheral vascular, and minimally invasive procedures.

The closing of the investment from TPG Capital builds on a period of significant momentum for Confluent. Select highlights include the development of film cast capabilities for PTFE liners and polyimide tubing, investment into electrospinning capabilities for the attachment of textiles to implant frames that minimize suturing, and the expansion of capabilities into larger diameter Nitinol tubing for structural heart implants.

About Confluent Medical

Confluent Applies Materials Science to MedTech Innovation. Confluent’s engineered solutions to the most challenging design problems enable our OEM medical device customers to offer life-saving products. Our customers rely on Confluent for materials science and associated manufacturing expertise which is critical to the function and value of their most demanding, high growth products – proprietary expertise which spans processing of high purity Nitinol, ultra-high density knitting of biomedical textiles, and precision laser treatment of specialty polymers. Confluent partners with leading OEMs to create a selective product portfolio that includes such complex applications as transcatheter heart valves, neurovascular implants, endovascular stent grafts, and advanced smart catheters. With facilities in Fremont and Laguna Niguel, California; Warwick, Rhode Island; Windham, Maine; Austin, Texas; Chattanooga, Tennessee; and San Jose, Costa Rica, Confluent has earned the confidence of the leaders in the medical device community through a proven track record of innovative materials science, engineering, and manufacturing. For more information, visit confluentmedical.com.

About TPG

TPG is a leading global alternative asset management firm founded in San Francisco in 1992 with $109 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com or @TPG on Twitter.

About Ampersand

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm's core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

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