N2 Biomedical announces expansion of team, acquisition by Ampersand

Bedford-based company embraces recapitalization, internal team’s growth

BEDFORD, Mass. – February 10, 2020 – N2 Biomedical, a leading provider of coating and surface treatment solutions to the medical device industry, announced several personnel changes to support its growth following a recent majority recapitalization of the company by Ampersand Capital Partners.

As part of the transaction, N2 Biomedical announced the appointments of Randall Sword to president and CEO; Victor “Vic” Nunes and Dean Schauer to the company’s board of directors; and Heidi DeGrazia to the role of chief financial officer.

Sword is an executive with 30 years of experience in the medical device sector. Nunes and Schauer join the board with a combined 25+ years of medical device industry experience. DeGrazia brings over 25 years of financial and operational experience to her role.

Since its founding in 2013, N2 Biomedical has processed millions of implantable medical devices utilized in orthopedic and cardiovascular procedures. 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.

“I am very pleased to join a company with such unique technologies and a history of developing innovative coating and surface modification solutions for the medical device industry,” Sword said. “With the support of an experienced and successful medical device investor in Ampersand, we look forward to further enhancing the high level of service and innovation customers have come to expect from N2.”

Trevor Wahlbrink, partner at Ampersand, explained that N2 Biomedical is an excellent fit with Ampersand’s investment strategy in the medical device industry, in which they target industry leaders with differentiated manufacturing technologies that address the critical needs of patients and global medical device OEMs.

“We are very excited to partner with Randall and the rest of the N2 management team to continue the company’s growth trajectory and support the expansion of N2’s service offering in this rapidly evolving industry,” Wahlbrink said.

N2 Biomedical co-founders Mark Little and Eric Tobin remain shareholders in the company. Little will remain on the board of directors, and Tobin will remain in his current position as chief operating officer.

About N2 Biomedical – Established in 2013, N2 Biomedical provides coating and surface treatment development and application services for medical devices utilized in orthopedic, cardiovascular, and other healthcare end-markets. The company 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. The company leverages its proprietary processes and equipment to provide customized solutions that enhance the characteristics of various materials in critical applications, including lubricity, infection resistance, biocompatibility and tissue integration, and wear and corrosion resistance. For more information, visit www.N2bio.com.

About Ampersand Capital Partners – Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, Massachusetts and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of its core healthcare sectors, including Avista Pharma Solutions, Brammer Bio, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics, and Viracor-IBT Laboratories. For more information, visit www.ampersandcapital.com.