Canadian Hospital Specialties receives investment from Flexpoint Ford
The company will remain headquartered in Oakville, Ontario.
OAKVILLE and CHICAGO — On Apr. 22, Canadian Hospital Specialties Ltd., a specialty distributor and manufacturer of medical and surgical products, announced that it has received a strategic investment from Flexpoint Ford, a private equity investment firm specializing in the healthcare and financial services industries. Previously majority-owned by affiliates of Cortec Group, CHS will continue operating as an independent company led by CEO Mike Canzoneri and the company’s current management team, who will continue to be owners in the business. The company will remain headquartered in Oakville, Ontario.
CHS serves healthcare providers and patients with a wide range of specialty solutions and locally manufactured products and works to introduce the most advanced medical technology in a mission to improve patient care and outcomes.
“We are delighted to welcome Flexpoint Ford as a highly strategic investor to CHS and are excited to leverage their deep expertise across our focus markets,” said Mike Canzoneri, CEO of CHS. “With this new partnership, we remain well positioned for growth and will continue to provide customers and suppliers with the innovative, essential products and value-added solutions they’ve come to expect from our team for over 50 years.”
“We have followed CHS closely for many years and see numerous opportunities to grow the business over the long term,” said Jonathan Oka, Managing Director at Flexpoint Ford. “The company has a leading market position and well-established reputation within the medical device industry, and we are proud to partner with Mike and his team. The addition of CHS to the Flexpoint portfolio underscores our commitment to investing in high quality healthcare companies in partnership with their management teams and employees.”
The Flexpoint team included Jonathan Oka, Dan Grigorescu and Blake Heyde. As part of the transaction, Flexpoint received financial advice from Cain Brothers, a division of KeyBanc Capital Markets. The company’s financial advisors were Harris Williams LLC and TM Capital Corp. Terms of the transaction were not disclosed.