PORTLAND, Ore. (January 18, 2011) — Endeavour Capital announced that it has partnered with medical device and contract manufacturing industry veterans Charles Stroupe and Jeffrey Goble in the formation of Providien, LLC (www.providienmedical.com). Providien will acquire or partner with medical device OEMs and will serve as a provider of diversified contract manufacturing and related services to the medical industry. Stroupe and Goble have over 50 years of combined experience in the medical device, medical contract manufacturing and pharmaceutical industries. They most recently served as Chief Executive Officer and President, respectively, of Medegen, Inc., a company which they co-founded in 2001 and sold to CareFusion in May 2010 for $225 million.
“Charlie and I are excited to partner with Endeavour Capital as we build Providien. Endeavour shares our values of entrepreneurial drive and creativity combined with a passionate focus on execution and value creation” commented Jeff Goble, Providien President and CEO. “Charlie and Jeff have consistently built high performing companies and have created excellent returns and value for all their stakeholders. We look forward to supporting Providien’s growth and success” said Mark Dorman, Endeavour Capital Managing Director.
Providien has completed two acquisitions since its formation in June 2010. These include Specialty Manufacturing, Inc. (SMI), a San Diego based provider of plastic thermoformed component manufacturing, engineering and design services to the medical equipment marketplace (www.smi-mfg.com), and Plastics Engineering & Development, Inc. (PEDI), a San Diego based provider of outsourced assembly services, plastic injection molding, and engineering to the medical device and life sciences markets (www.pediplastics.com).
Providien is actively pursuing medical device acquisition opportunities and continues to seek acquisition candidates providing contract manufacturing, assembly and engineering and design services to the medical device market.
For more information on Providien or to discuss potential acquisition opportunities, please contact Dietz Fry at Endeavour Capital.
About Endeavour Capital
Endeavour Capital is a West Coast based private equity firm that focuses on partnering with leading middle market companies across the U.S. Founded in 1991, Endeavour has offices in Portland, OR, Seattle, and Los Angeles. Endeavour is currently investing its fifth fund and has over $1 billion of committed capital.
Contact Information
Endeavour Capital
Dietz Fry, Principal, 503-223-2721
jdf@endeavourcapital.com