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Citizens Advises Bionix Development Corporation on Recapitalization by Argosy Private Equity

February 17, 2021, 06:00 AM
Filed Under: Industry News

Citizens M&A Advisory served as the exclusive M&A advisor to Bionix Development Corporation on its recapitalization by Argosy Private Equity.

Bionix, headquartered in Toledo, Ohio, is a leading developer of innovative healthcare products for single-use ear, nasal and wound care applications, among others. Co-founded in 1984 by Drew Milligan, Ph.D., and Jim Huttner, M.D., Ph.D., Bionix produces its products in the United States and is trusted by physicians throughout the care continuum for developing premium products that set innovation, quality and performance standards. Argosy’s investment will allow Bionix’s co-founders and management team, led by President and CEO Chris Becker, to accelerate the company’s new product development and other organic and inorganic growth opportunities.

“We are greatly appreciative of the Citizens M&A Advisory team’s guidance throughout this recapitalization process, which has provided us with an ideal partner in Argosy for accelerating growth and maintaining Bionix’s proud legacy and culture in Toledo,” said Huttner, who will continue in his role as medical director and vice president of product development.

“Bionix is an exceptional medical device company,” said Andrew Male, managing director in Citizens’ healthcare M&A practice.  “We are excited for our clients to be able to accelerate the Company’s growth initiatives through this partnership with Argosy and further build upon the founders’ 30-year legacy of developing innovative, premium healthcare products.”

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