N2 Biomedical, a Bedford, Mass.-based provider of coating and surface treatment solutions to the medical device industry, received a majority recapitalization by Ampersand Capital Partners.
The amount of the deal was not disclosed.
As part of the transaction, N2 also announced the appointment of Randall Sword, an executive with 30 years of experience in the medical device sector, as President and CEO. Mr. Sword has served in executive leadership positions at multiple leading medical device manufacturing companies, including as CEO of AdvancedCath.
Since its founding in 2013, N2 provides coating and surface treatment development and application services for implantable and other medical devices utilized in orthopedic, cardiovascular, and other healthcare end-markets.
The company’s proprietary processes are utilized in a variety of critical settings to improve material characteristics including lubricity, infection resistance, biocompatibility and tissue integration, and wear and corrosion resistance.
N2 is ISO-13485 certified, FDA GMP-compliant, and operates in a 30,000 square foot facility with laboratory, manufacturing, and cleanroom space to service all customer and regulatory requirements.
Co-founders Mark Little and Eric Tobin remain shareholders in the company. Mr. Little will remain on the Board of Directors, and Mr. Tobin will remain in his current position as the company’s Chief Operating Officer.