In a recent news release, Altimate Medical Inc, Morton, Minn, reports that its management team and equity partners have completed the purchase of Altimate Medical from Invacare Corporation. The release states that management led the buyout with equity partners Rockwood Equity Partners and Granite Equity Partners. Todd Tholkes, general manager, has reportedly been named president and CEO, and all other Altimate executives will remain in place as owners and executives in their current roles.
In the release, Tholkes emphasizes Altimate Medical’s continuing commitment to working with its independent representatives and distributors, and its excitement about the future.
The release also notes that in the next phase of the company’s development and growth, Rockwood Equity Partners will place executive Vince Nardy as the board Chair along with Joe Merrill, the Rockwood partner leading the investment. Additionally, Pat Edeburn, Partner with Granite Equity, will join the company’s board alongside Tholkes.
According to the release, no service delays should be expected as a result of the sale, and Altimate’s customers, suppliers, and distributors should expect continuing quality customer service and a seamless transition of ownership.
[Source: Altimate Medical]