Arlington Capital Partners has announced it has agreed to sell Riverpoint Medical to Novanta.
Riverpoint, founded in 2008 and based in Portland, Oregon, designs, develops and markets medical devices for the healthcare and veterinary markets. The company specializes in the production of surgical solutions — including fiber-based, polymer and bioabsorbable devices and structures — critical to life-saving medical procedures.
Arlington, founded in 1999 and based in Washington, D.C., is a private equity firm specializing in government-regulated industries, including healthcare.
Novanta (NASDAQ: NOVT), founded in 1968 and based in Bedford, Massachusetts, designs and manufactures components and subsystems for medical, life science and industrial applications, with a strong focus on photonics, vision systems and precision motion technologies.
Arlington is selling Riverpoint to Novanta for a total enterprise value of $1.45 billion, comprised of upfront cash consideration of $1.2 billion and a milestone payment of $250 million in the first quarter of 2027.