Healthcare
Suture Express
The New Harbor team, while employed at a former firm, identified and hired an experienced industry executive, Ed Kuklenski, to manage Suture Express. Under Ed’s leadership, Suture Express achieved organic growth of over 30% per year. The success of the company led to the establishment of a new GPO contracting category. Ultimately, the company’s leading position in a niche market drew significant strategic and private equity interest, and the business was sold to Diamond Castle Partners in January 2010.
“Ed Lhee and Tom Formolo have done an excellent job of perfecting an equity incentive program that aligns the financial interests of the investors and management. Their knowledge and experience were critical to Suture Express achieving a timely and successful exit.” *
Ed Kuklenski
Suture Express, Executive Chairman and Former CEO
Ed KuklenskiInvestment Accomplishments:
- Built a Board of Directors. Established strategic board of directors which provided the Company with insights and expanded relationships with acute care hospitals.
- Built management team. Successfully transitioned the business from the four original founders to a professional management team led by an experienced industry executive, Ed Kuklenski.
- Supported gains in productivity. Utilized technology to improve the operations of a highly complex distribution process. Established dashboard reports to more effectively manage and monitor financial and operating performance of the business.
- Added new product categories. Through focus research, successfully added several new product categories which leveraged the company’s differentiated overnight delivery model.
*Represents investments by certain New Harbor Capital Partners while at their former firm. The individual(s) Partners either sourced/led the investment or served as an active representative. These investments do not comprise all the investments made by the prior firm nor is it a complete list of investments in which the Partners were involved.
**This individual’s comments are not an advertisement for an investment in New Harbor Capital’s funds. This individual was previously an executive of a prior investment led by the New Harbor principals at a prior firm, and is currently an Executive Advisor for New Harbor. This individual is also currently an investor in New Harbor Capital’s funds and is also an independent board member and/or investor in one or more of New Harbor Capital’s portfolio companies. This individual was not compensated in connection with their participation.
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