Shore Capital Partners has announced that it has completed a growth investment in Argentum Medical, LLC and certain assets of Cura Surgical, Inc.
Founded in 2001 and located in Geneva, IL, Argentum manufactures and sells innovative wound care products across a wide number of clinical applications, including the Silverlon® brand, its rapidly-growing, proprietary range of silver-based antimicrobial products.
The core platform technology in Silverlon is a uniquely designed silver-plated nylon matrix that provides the powerful antimicrobial properties of silver ions in the dressing without staining the skin and without increasing bioburden. Silverlon dressings are used today by surgeons and other healthcare professionals around the world on surgical wounds, burns, chronic wounds, IV catheter-related wounds, and for negative pressure wound therapy.
Following Argentum’s history of robust research and development support, in 2015, the U.S. Biomedical Advanced Research and Development Authority (“BARDA”) awarded Argentum a multi-year contract up to $16.5 million to conduct research to support new Silverlon indications. In addition, BARDA selected Silverlon from a broad range of wound care products for inclusion on an annual basis in the Strategic National Stockpile (“SNS”). The SNS is intended to offer products that have the potential to eliminate resource-intensive steps, shorten hospital stays and improve patient outcomes in the event of a disaster.
Argentum represents the seventh platform investment out of Shore Capital Partners Fund I, L.P., a $112.5 million investment vehicle raised in May 2014. Argentum was advised by The Walden Group during the transaction.
Jones Day has advised Shore Capital Partners in its acquisition of a minority stake in Argentum Medical with a team led by Michael Earley.
Involved fees earner: Michael Earley – Jones Day;
Law Firms: Jones Day;
Clients: Shore Capital;