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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Tornier majority stake goes to investor group: French orthopedic device maker Tornier is majority owned by private equity investor Warburg Pincus and venture capital firm The Vertical Group under a transaction announced July 18. The Grenoble, France-based company's joint replacement offerings include hips, knees, shoulders, ankles and other extremity prostheses. Terms of the deal were not disclosed. Similarly, orthopedic device firm Encore Medical recently was bought out by private investment firm Blackstone Capital Partners (1"The Gray Sheet" July 10, 2006, p. 9). In conjunction with the Tornier investment deal, President and CEO Alain Tornier steps down to become chairman as Douglas Kohrs takes over as president and CEO. Kohrs served in the same positions at American Medical Systems from 1999 until 2005, and as chairman from 2004 until 2006...

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