Category: news

CSafe has engaged local partnerships to establish its first hub operation in Luxembourg and a third in Italy to support local customers.
CSafe Global, the innovation leader in temperature-controlled container solutions for the transport of life-enhancing pharmaceuticals, is once again expanding their global footprint opening two new hub operations in Luxembourg and Florence, Italy.
Partnering with DB Schenker in Luxembourg, CSafe has approximately 2,500 square-feet / 232 square-meters of warehouse space to clean and store RKN and RAP containers. In Florence, the company has extended an ongoing partnership with BCube to secure approximately 10,000 square-feet / 929 square-meters for CSafe containers.
With the addition of these new hub locations, Europe now has the most CSafe operations facilities in the world. “These locations round out a robust CSafe network across Europe,” noted Tom Weir, CSafe COO. “We continue to evaluate the need for additional locations in Europe and around the world to ensure we make the most strategic investments that will optimize operations and service for our customers,” he continued.
CSafe continues to deliver on its mission to the highest quality temperature-controlled containers in the industry to ensure pharmaceuticals and biologics are delivered to patients in optimal condition for maximum efficacy. By investing in best-in-class facilities in strategic locations worldwide, CSafe can provide top tier service to customers in their local area.

Saint Paul, MN—Minnetronix Medical, Inc. a leading medical technology and operations partner to global medical device companies, announced today a majority recapitalization with Altaris Capital Partners, LLC. Altaris, an investment firm focused on the healthcare industry, actively manages $4.9 billion of equity capital and has been a minority investor in Minnetronix since 2015.
“Throughout our relationship with Altaris, we have achieved many milestones as a company,” said Jeremy Maniak, Minnetronix CEO. “Now, with our expanded partnership, we are excited to accelerate our strategy and move into the next stage of growth at Minnetronix.”
Headquartered in Minnesota, Minnetronix focuses on product development and manufacturing across the full product life cycle with specialized expertise in key technology segments, including RF energy, fluid and gas management, optical systems, and stimulation and wearable devices. The company also recently launched its whole product solutions, offering ready-made products and solutions for customers to add to their portfolios, as evidenced by the FDA-approved MindsEye™ Expandable Port for critical access in interventional neurosurgical procedures.
Minnetronix’ holistic, solutions-driven approach is unique in the industry. The company maximizes clinical performance, improves product quality, and lowers costs for its customers by eliminating waste through integrated development, manufacturing and supply chain processes.
“We are excited to expand our partnership with Minnetronix and build on the company’s rich heritage of accelerating medical device innovation for its customers,” said Jim O’Brien, managing director at Altaris. “We look forward to working with the Minnetronix team to support the company’s next phase of growth.”
Fox Rothschild LLP acted as legal counsel for Minnetronix. Schiff Hardin LLP acted as legal counsel for Altaris.

Kindeva Drug Delivery (Kindeva) announced that Shawn Cavanagh has joined Kindeva’s Board of Directors. The appointment of Mr. Cavanagh is effective as of January 1, 2021. Mr. Cavanagh, with over 30 years of experience in the pharmaceutical services industry, will serve as a valuable and strategic advisor to Kindeva.
Mr. Cavanagh has held senior leadership roles at multiple contract development and manufacturing organizations (CDMOs). He brings to Kindeva a highly relevant set of experiences with global, integrated CDMOs that specialize in innovative and complex drug products. Most recently, he was President, Chief Operating Officer, and member of the Board of Directors at Cambrex Corporation. During his time at Cambrex, Mr. Cavanagh was integral in driving industry-leading growth and ultimately taking the company private in December 2019.
“Shawn’s deep knowledge of the entire drug lifecycle will help Kindeva as we continue to build the industry’s leading complex drug CDMO,” said Aaron Mann, CEO of Kindeva. “I welcome him to our Board of Directors and look forward to working with him on the strategic opportunities in front of Kindeva.”
“Kindeva has a leading reputation in the formulation, development, and commercial supply of complex drugs and combination products,” said Mr. Cavanagh. “I’m excited to support the company as it completes its transition from 3M and continues along its exciting growth trajectory.”
Mr. Cavanagh has also held leadership roles at Lonza, where he served as President of Lonza Bioscience, and Cambrex Bioproducts, a business that was sold by Cambrex to Lonza in 2007. He holds a degree in Chemical Engineering from the University of New Hampshire.

HealthTronics has named Bill Linder its new Chief Executive Officer.
Linder was formerly President of Development for Surgical Care Affiliates (SCA), a leader in outpatient surgical care with more than 230 ambulatory surgery centers across the U.S. At SCA, he held several senior operational and business development roles within executive leadership. In 2017 and 2016, he was named a Rising Star in Healthcare by Becker’s Hospital Review and Becker’s ASC Review. Prior to joining SCA, Linder held sales leadership roles with Harden Healthcare and Apria Healthcare.
“HealthTronics has established itself as a top provider of specialized mobile medical therapies and highly trained personnel to physicians and health systems who utilize these solutions throughout the U.S.,” Linder said. “I look forward to working with my teammates to make HealthTronics a premier partner for the mobile medical therapies we provide and an employment destination for top talent.”
Linder said his focus going forward includes strengthening HealthTronics’ partnerships with independent medical groups and health systems, enhancing our patient experience through superior clinical quality and expanding into new markets.
“In this time of COVID-19, it is particularly important that our mobile solutions are helping healthcare systems and physicians deliver specialized care in optimized settings in a cost effective manner,” said Linder.

New York, NY—Altaris Capital Partners, LLC (“Altaris”) is pleased to announce the recapitalization of CSafe Global (“CSafe”, or the “Company”) with an investor group, including funds managed by Frazier Healthcare Partners. As part of the transaction, Altaris will continue to maintain a minority position in the Company.
Based in Ohio, CSafe Global is a provider of cold chain packaging solutions that address the global supply chain needs of the biopharmaceutical industry. CSafe’s containers are designed to maintain high-value and temperature-sensitive biopharmaceutical cargo within precise ranges, often for extended periods of time in extreme external conditions. The Company has two core business units which operate under the brands CSafe and AcuTemp, both of which provide high performance solutions in their respective “Active” and “Passive” container markets.
Altaris initially acquired CSafe in January 2015 after identifying the need for more advanced cold-chain logistical capabilities for next-generation therapeutics, including biologics, vaccines, and gene and cell therapies. In October 2016, Altaris completed a recapitalization of CSafe with Thomas H. Lee Partners and maintained a minority ownership position in the Company.

Company Focused on Core Healthcare Business, Strategic Growth Opportunities.
Nashville, TN/PRNewswire—Tivity Health (Nasdaq: TVTY) announced today that it has completed the divestiture of its Nutrition Business, which includes Nutrisystem^® and South Beach Diet^®, to Kainos Capital, a leading food and consumer-focused private equity firm, for a total gross purchase price of $575 million in cash. The Company used a significant majority of the divestiture net proceeds to pay down debt, which has materially de-levered its balance sheet and will provide significant additional financial flexibility to support the growth of its go-forward, focused healthcare business. The transaction is expected to result in a fourth quarter 2020 post-close net leverage ratio of no more than 2.8x.
“This transaction will enable Tivity Health to drive sustainable growth within our healthcare business, accelerating our SilverSneakers^®, Prime^® Fitness, WholeHealth Living^® and Wisely Well™ brands with new digital engagement tools and data to become a more member-centric organization,” said Anthony Sanfilippo, Chairman of the Board of Directors, Tivity Health. “In addition to divesting the Nutrition division, we’ve realigned our organizational structure and resources to best deliver on our growth opportunities, and we expect to continue to achieve strong operational performance as a result of our disciplined approach. I am extremely proud of the progress we’ve made repositioning the business, accelerating the positive change since Richard Ashworth became CEO in June. Building on our solid foundation and with Richard’s capable and focused leadership, I am confident Tivity Health is on track to become the modern destination for healthy living.”
“The strategic changes underway at Tivity Health have unlocked a wide range of exciting opportunities to promote growth in our healthcare business and bring new and expanded capabilities to our members, customers and partners,” said Richard Ashworth, CEO, Tivity Health. “We have a strong, talented team in place, and have begun a search for a Chief Customer Experience and Innovation Officer, as well as a Chief Information Officer, to support our go-forward strategy. Tommy Lewis will remain as Chief Operating Officer, with a focus on supporting our health plans and fitness location partners in our core healthcare commercial operations. As President of the Nutrition Division, Tommy orchestrated an impressive turnaround, significantly improving the Division’s performance in just over ten months. We are grateful for his contributions and pleased that our healthcare business will continue to benefit from his expert guidance. I look forward to sharing more about our go-forward strategy on our fourth quarter and full year earnings call in February.”

St. Paul, MN–Kindeva Drug Delivery (Kindeva) and Breath of Life International (BOL Pharma or BOL) have signed an agreement to study the feasibility of multiple inhaled cannabinoid products. Under the agreement, Kindeva will develop novel formulations of BOL Pharma’s cannabinoidbased drug products delivered by Kindeva’s metered-dose inhaler (MDI) technology. Subject to all required regulatory approvals, the products under development could go on to treat a range of central nervous system diseases, including autism spectrum disorder, epilepsy, and general severe pain and anxiety experienced as part of conditions such as palliative care and diabetic neuropathy. If successful, this early-stage activity could lead to the long-term commercial supply of regulated inhaled cannabinoid products, leveraging Kindeva’s commercial manufacturing capabilities and BOL’s accumulated know-how and innovation in the field of medical cannabis.
Kindeva, a leading global contract development and manufacturing organization (CDMO), has a historical legacy of solving complex drug delivery challenges in the pharmaceutical, biotechnology, and life sciences sectors. The company has over 60 years of development-driven innovation across multiple drug delivery technologies, including inhalation, transdermal, and microneedles. In inhalation, Kindeva’s list of novel achievements includes the invention of the world’s first MDI and the world’s first CFC-free MDI.
“We are thrilled to launch this partnership with BOL Pharma,” said Aaron Mann, CEO of Kindeva Drug Delivery. “This is a partnership between two highly innovative and growing companies. BOL Pharma is an acknowledged leader in medical cannabis, and I’m excited that Kindeva has the opportunity to support their progress in this space. Kindeva’s formulation and development expertise, built on more than 20 successful customer launches, enables us to be a strategic partner to BOL Pharma throughout the development lifecycle. Most importantly, the successful development of these products would ultimately offer patients a new and valuable tool for treating truly debilitating conditions.”
“We are excited to form a partnership with Kindeva Drug Delivery, formerly 3M Drug Delivery Systems, a recognized global leader in the development of complex drugs, to develop a best-in-class inhaler,” said Kfir Avraham, CEO of BOL Pharma. “By entering into this collaboration, BOL Pharma reaffirms its commitment to developing pharmaceutical-based cannabinoid products to address serious medical needs. This partnership, bringing together two leading companies, will provide a patient-centric solution to those at need.”
This announcement highlights the growing opportunity for inhalation to expand into adjacent therapy areas and indications. In recent years, Kindeva has been actively identifying and progressing new development opportunities in inhalation that go beyond asthma and COPD. “The BOL partnership demonstrates how broad and effective inhaled drug delivery can be,” Mann said. “Applications for inhaled therapies go beyond respiratory diseases. In this case, we’re looking at the systemic delivery of drugs via the lungs. Due to heightened bioavailability compared to oral delivery, inhaled cannabinoids have the possibility to significantly reduce the dosage and reduce the variability currently observed with cannabinoid treatment, with the potential to also enhance the overall accuracy, safety and efficacy.”
The products are being developed for multiple markets worldwide, including the United States, the United Kingdom, and the European Union. “With Kindeva as our partner, BOL pharma is committed to testing this best-in-class inhaler in clinical trials to establish the safety and efficacy in several unmet medical conditions in consultation with the FDA and EMA”, said Boaz Hirshberg MD, CMO of BOL Pharma. “This partnership will allow us to develop a platform that will deliver an accurate and consistent dose to patients. Furthermore, the rapid onset of action will provide an advantage, especially when dealing with severe pain.”

New York, NY—Paramit Corporation, a portfolio company of Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”), has acquired Emphysys, Inc., a leading technology development firm specializing in complex systems and products for the medical device, life sciences, and industrial equipment industries. The business combination will strengthen Paramit’s product design and development capabilities, as well as add a strategic presence for the company in the rapidly growing Greater Boston market.
Based in Silicon Valley with operations in the U.S., Europe, and Malaysia, Paramit develops and manufactures medical devices and life science instruments for its industry leading customers. Emphysys, founded in 2009 and located just north of Boston, Massachusetts, specializes in advanced power systems, radiofrequency and microwave technologies, motion controls and thermo-fluid systems.
“We are excited about expanding our offering to customers,” said Billoo Rataul, CEO of Paramit. “The work being done at Emphysys routinely pushes the boundaries of science and technology, and is a perfect complement to our existing areas of focus. Our customers value partners who enable their innovations and accelerate the timeline to market. With the addition of Emphysys, Paramit will provide an enhanced solution set to our global customer base.”
Ali Shajii, CEO of Emphysys, commented: “As part of the Paramit team, Emphysys will now offer complete end-to-end “transferless” development services, spanning new technology invention through product development and into full scale, commercial manufacturing. In addition to augmenting Paramit’s existing product development capabilities with deep expertise in technology development, Emphysys will provide a strong Boston-area presence to better serve and help drive growth with Paramit’s customers in the medical device and life sciences markets. We are happy to be joining a global team with a commitment to excellence and look forward to continuing our success and growth together.”
Schiff Hardin LLP acted as legal counsel for Paramit.

Nashville, TN/PRNewswire—Tivity Health^® Inc. (Nasdaq: TVTY), a leading provider of health improvement solutions, is now offering free, unlimited access to the entire SilverSneakers^® On-Demand™ library through December 31, courtesy of eHealth, Inc., a leading online Medicare insurance marketplace. SilverSneakers provides eligible Medicare Advantage, Medicare Supplement and group retiree plan members access to a network of more than 17,000 fitness locations nationwide, virtual workouts, social events and a variety of class types, all at no additional cost to our members.
SilverSneakers On-Demand is a video library of over 200 workouts, wellness videos, and fitness programs designed by top instructors. From now until December 31, anyone can access hundreds of workout and nutrition programs at home for free by checking eligibility and creating an account at silversneakers.com. Flexibility/mobility, balance, cardio, strength, and more: regardless of abilities or interests, there’s something for everyone of every fitness level and specially designed programs to keep participants on track.
“While some seniors are returning to the gym, others are choosing to stay fit at home during COVID-19,” said Richard Ashworth, president and CEO, Tivity Health. “Virtual exercise options are providing SilverSneakers members critical access to fitness and social connection, both vital for maintaining optimal health. Our partnership with eHealth allows us to help seniors explore a new world of fitness options in the comfort of their own home with our trusted SilverSneakers fitness instructors. There has never been a more crucial time for seniors to stay socially connected, physically active and virtually engaged.”
The Medicare Advantage Annual Election Period (AEP) began on October 15 and continues through December 7, 2020. During this time, individuals eligible for Medicare can choose a Medicare Advantage plan for the upcoming year that includes SilverSneakers. We’ve partnered with eHealth, whose licensed Medicare agents are prepared to give seniors the support they need to find the plan that matches individual needs and budgets.
“At a time when so many seniors are exploring new ways to maintain their health through the COVID-19 crisis, eHealth’s partnership with SilverSneakers to make the On-Demand fitness platform available to all seniors nationwide reflects the spirit of both our businesses,” said Gregg Ratkovic, Senior Vice President for Carrier & Business Development, eHealth. “We are thrilled to announce this partnership, bringing new innovative solutions to better serve Medicare beneficiaries.”
SilverSneakers is available in all 50 states and is offered through more than 70 health plans nationwide including the nation’s leading Medicare Advantage health plans, Medicare Supplement, and group retiree plans. Members can determine their eligibility, find their closest participating location or learn more about the program by visiting SilverSneakers.com. For seniors who need help picking a plan, our friends at eHealth can simplify the process. Call 844-798-0050 to speak to a licensed eHealth agent now.

Morgan Hill, CA—Paramit Corporation announced today that as part of its planned strategic expansion into Europe, it has agreed to acquire Austrian-based S.I.E. SOLUTIONS. Paramit, headquartered in Silicon Valley with operations in California and Malaysia, designs and manufactures electronics based medical devices and life science instruments, while S.I.E SOLUTIONS, headquartered in Lustenau, Austria, is a leading designer, manufacturer, and provider of embedded technology solutions to customers across the healthcare and security technology industries.
Founded in 1994 with a strong presence in Austria and Germany, S.I.E SOLUTIONS will complement Paramit’s existing design and manufacturing capabilities and serve as its headquarters in Europe. In addition, with Paramit’s support and investment to increase its manufacturing and development capabilities locally in Europe, S.I.E SOLUTIONS will be able to deliver Paramit’s combined know-how and expertise, including Paramit’s vPoke^® computer directed assembly and zero defect manufacturing processes, to its European customers.
“We are happy and proud to be teaming up with S.I.E SOLUTIONS,” said Billoo Rataul, CEO of Paramit. “The company’s experience and highly specialized focus complement Paramit’s own product development and manufacturing capabilities. Together, we will deliver an enhanced and comprehensive product realization offering to our customers around the world. In addition, with our highly-skilled teams and combined expertise, we can support a wider range of medical devices and life science instruments for our customers, including those delivering innovative solutions across various diagnostic, therapeutic, surgical, and drug discovery applications.”
Markus Dillinger and Josef Krojer, Managing Directors of S.I.E. SOLUTIONS, commented: “As part of the Paramit family, our customers will benefit in particular from an increase in production depth and an expansion of service capabilities. In addition, with our expertise in embedded solutions and our excellent market position in Europe, we can provide a strong and valuable local presence for Paramit in Europe. The combined and highly congruent experience of the two companies, especially in the IVD, life sciences & medical device sectors, will enable us to take advantage of the strong growth opportunities in these markets and better serve our customers.”
Under the terms of the agreement, Paramit will acquire System Industrie Electronic GmbH and its German subsidiary System Industrie Electronic Deutschland GmbH. The transaction is subject to the receipt of customary regulatory approvals and is expected to close in the fourth quarter of 2020.
Schiff Hardin LLP and Binder Grösswang acted as legal counsel for Paramit. Lincoln International acted as exclusive investment banking advisor to S.I.E SOLUTIONS.