Altaris Closes Sale of Paramit
New York, NY—Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”) announced today that it has completed the sale of Paramit to the Tecan Group (SIX Swiss Exchange: TECN) for total upfront consideration of $1.0 billion.
Headquartered in Morgan Hill, CA, Paramit is a developer and manufacturer of complex electronic medical devices and life science instruments for industry leaders in many of the fastest growing segments of healthcare. Paramit utilizes its proprietary “transfer-less” workflow and vPoke® computer directed assembly process to partner with its customers to deliver high quality products from initial concept to scaled commercial production. Paramit employs approximately 1,000 people across its global design and manufacturing footprint in California, Massachusetts, and Malaysia.
Morgan Stanley & Co. LLC acted as financial advisor, and Schiff Hardin LLP acted as legal counsel to Paramit.
Altaris is an investment firm focused exclusively on the healthcare industry. Altaris seeks to invest in companies that deliver value to the healthcare system and improve patient outcomes by providing innovative products and services. Since inception in 2003, Altaris has invested in more than 40 companies across its five main investment funds. Altaris has $5.9 billion of equity capital under active management and is headquartered in New York, NY. For more information, visit www.altariscap.com.