Patterson Medical, backed by majority shareholder Madison Dearborn Partners, is acquiring Performance Health from Gridiron Capital, according to a media release.
In addition, per the release, the combined company will be headquartered in Warrenville, Ill. Performance Health will operate as a business segment of Patterson Medical and maintain its existing name and presence in Akron, Ohio.
“Patterson Medical and Performance Health are natural partners, and we look forward to realizing the significant potential our combination presents to our customers, employees and entire supply chain,” says Mike Orscheln, chief executive officer of Patterson Medical, who will continue to serve as CEO of the combined company.
“Joining with Patterson Medical offers Performance Health and all of our core constituents the best opportunity for continued success and growth,” states Marshall Dahneke, chief executive officer of Performance Health, who will become president of the Performance Health segment once the acquisition is finalized.
[Source(s): Patterson Medical, Performance Health, Business Wire]