Chicago-Based Shore Capital Collaborates With C2Dx

Shore Capital Partners & C2Dx joined forces to create a leading medical device entity.

Chicago-based Shore Capital Partners has joined forces with C2Dx, a medical device company based in Michigan, US.

The partnership aimed at building a leading, diversified medical device company through investments in industry partnerships, business development and products with a vision to serve multiple specialties and procedures across the US and internationally.

Following the partnership, Shore Capital and C2Dx jointly acquired the Otolaryngology/Head and Neck Surgery (OHNS) family of products from Cook Medical.

Cook Medical signed an agreement with C2Dx, to provide the OHNS product portfolio to C2Dx. These products provide minimally invasive procedures for ENT surgeons to help treat obstructive salivary disease, chronic ear disorders, nasal/sinus and skull base reconstruction, and dysphagia.

Deep Dive into The Partnership Agreement

Don Pierce, partner & chairman, board, C2Dx, said, "Kevin McLeod and his high-calibre team have built an incredible company with an excellent reputation in the medical device space. We are well-positioned to build on their reputation as an industry leader through both acquisitions and organic growth, and the initial acquisition from Cook Medical complements and differentiates the platform’s product offerings."

USA-based, C2Dx is a medical device company established in early 2019. Led by CEO Kevin McLeod, the company invests in and refines the delivery of valuable, niche products to propel their growth and accessibility worldwide. Moreover, the C2Dx is committed to providing leading medical products and superior customer service while continually evolving to ensure that healthcare providers have the devices and technology they need.

Commenting on the partnership, McLeod, CEO, C2Dx, stated, "Our partnership will enable us to invest further in our team, capabilities, and offerings, facilitating accelerated growth. The acquisition of Cook’s OHNS product family is transformative for C2Dx, aligning with the strategy developed when we partnered with Shore. Cook’s OHNS products are recognised for their reliability and high quality in ENT and head & neck procedures. We aim to increase market penetration through our experienced sales organization, international distributor network, and product enhancements."

C2Dx’s Growing Acquisition Strategy

The OHNS product family represents C2Dx's fourth acquisition in its product line, following the Shaw Scalpel (from Hemostatix), STIC Intra-Compartmental Pressure Monitor (from Stryker), and T/Pump Localised Temperature Therapy System (from Stryker). Pierce underscored that OHNS is well-suited for constructing a leading platform catering to the ENT and soft tissue markets. These acquisitions expand C2Dx’s reach in both domestic and international sales while enhancing the depth of its product portfolio.

Last year in February, C2Dx acquired the T/Pump product line from Stryker. This marked C2Dx's second product line, following its earlier acquisition of the STIC Intra-Compartmental Pressure Monitor. The T/Pump, known for providing localised temperature therapy to alleviate pain and enhance patient comfort, was commonly utilised for various orthopaedic conditions, acute injuries, chronic pain, muscle strains, as well as skin trauma, burns, contusions, and other localised pain diagnoses such as arthritis and neuritis. Its features included controlled warming and cooling temperature settings, along with multiple treatment cycle options, enabling customised therapy for each patient's specific needs.

Shore Capital, a Chicago-based private equity firm with offices in Nashville and Detroit, is an investor in microcap companies in the healthcare, food and beverage, business services, industrial, and real estate industries.

Further, Shore’s strategy is to support management partners to grow faster with less risk, through access to capital, world-class board and operational resources, and networking, development, and shared learnings across the portfolio.