RoundTable Healthcare Partners Makes Investment in Vesta, Inc.

Partnership Provides RoundTable New Platform in Silicone-based Medical Products LAKE FOREST, Ill., Aug. 1 /PRNewswire/ -- RoundTable HealthcarePartners ("RoundTable"), an operating-oriented private equity firm focusedexclusively on the healthcare industry, announced today that it hasacquired a majority interest in Vesta, Inc. ("Vesta"). Vesta, based outsideMilwaukee, Wisconsin, is a leading supplier of silicone medical products tothe OEM medical device industry. The Vesta management team, led by CEO PhilEstes, as well as owner-founders Chuck Heide and Glenn Hubbard, will retaina substantial ownership stake in the company and will continue to lead themanagement of the organization. Financial terms of the transaction were notdisclosed. "Vesta is an exciting new platform for RoundTable to add to our growinglist of medical-surgical companies," said Joseph F. Damico, a FoundingPartner of RoundTable and new Chairman of Vesta. "The company manufacturesan attractive portfolio of silicone medical devices and accessories andprovides a strong platform for expansion. We have been very impressed withVesta's management team and employees; they have an outstanding reputationfor quality and the execution of superior results. We look forward toworking with them." "RoundTable is an ideal partner for Vesta," said Mr. Estes. "Theirextensive background in the medical device industry and their strategicinsight will be extremely valuable to Vesta as we continue to execute ourgrowth strategy. We believe that RoundTable will be able to help accelerateVesta's growth through their operational, strategic, and marketingexperience, as well as through their strong relationships with keydecision-makers in the healthcare industry." As part of the transaction, and to finance further growth opportunitiesfor Vesta, RoundTable facilitated the successful completion of new seniorcredit facilities and a private placement of senior subordinated notes. Thesenior credit facilities were led by GE Commercial Finance HealthcareFinancial Services, and included LaSalle Bank and National City Bank.Vesta's senior subordinated notes were acquired by RoundTable CapitalPartners ("Capital Fund"), RoundTable's captive subordinated debt fund. TheCapital Fund is a dedicated subordinated debt fund that makes fixed ratesubordinated debt investments alongside the equity investments ofRoundTable's equity funds. RoundTable's investment strategy targets companies in the healthcareindustry that fall within the expertise and experience of the firm'soperating and transaction principals. Vesta is RoundTable's eleventhplatform investment and the fourth from RoundTable's $500 million Fund II.Vesta represents the third investment from the Capital Fund. RoundTable's other Fund II platform investments include Aspen SurgicalProducts Holding, Inc., Bioniche Pharma Holdings, Limited and CorePharmaLLC. Additionally, RoundTable's Fund I investments have included: AvalignTechnologies, Inc., ACI Medical Devices, Inc., Ascent Healthcare Solutions,Exclesior Medical Corporation, MedAssist, Inc., AMI Medical Devices, Inc.,and Sabex Holdings, Ltd. "We are very pleased to add Vesta to our portfolio, and make our fourthinvestment from Fund II and our third investment from the Capital Fund,"said Lester B. Knight, a Founding Partner of RoundTable. "Vesta is anotherexample of RoundTable's core strategy of partnering with strongowner-founder companies in one of our targeted healthcare sectors. We willnow work in partnership with Vesta's management to leverage ouroperational, transactional, and industry expertise to maximize thecompany's growth and profitability." About RoundTable Healthcare Partners RoundTable Healthcare Partners, Lake Forest, IL, is anoperating-oriented private equity firm focused exclusively on thehealthcare industry. RoundTable partners with companies that can benefitfrom its extensive industry relationships and proven operating andtransaction expertise. RoundTable has established a successful track recordof working with owner/founders, family companies, management teams,entrepreneurs, and corporate partners who share a vision and believe in thevalue creation potential of its partnership model. RoundTable currentlymanages $1.1 billion in capital, including two equity funds totaling $900million and a subordinated debt fund of $200 million. More informationabout RoundTable Healthcare Partners can be found athttp://www.roundtablehp.com.