Calder Capital is pleased to announce the sale of RG Enterprises (USA), Inc. (“RG Medical Diagnostics”) of Wixom, MI to Fox Hill Capital, Inc.!
Founded in 1995, RG Medical Diagnostics is a distributor of lifesaving healthcare and medical products. The Company distributes products manufactured by the German medical technology company, Geratherm Medical AG. Geratherm is regarded in the medical community for providing high quality and innovative lifesaving medical technology.
RG Medical Diagnostics distributes Geratherm® thermometers, Geratherm® warming blanket systems, and the DataTherm®. The DataTherm® is a portable continuous temperature monitor used in conjunction with the Geratherm® warming blanket systems to prevent and treat hypothermia.
Other products distributed by RG Medical Diagnostics include MYSHIELD sanitizing products and Branam Xylitol toothpastes. The Company also offers product packaging and distribution services for other manufacturers, wholesalers, and retailers.
RG Medical Diagnostics distributes its products to health care systems, medical retailers, and other well-known retailers such as Meijer, Walmart, Rite Aid, and Walgreens. Other customers of the Company include the U.S. Department of Defense, the Canadian Defense Department, Canada’s Search and Rescue, as well as many professional sports organizations and collegiate athletic programs.
RG Medical Diagnostics was originally founded by Jim Voorheis in 1995. Shortly thereafter Jim recruited Ron LeTourneau to run the day-to-day operations of the Company. Shortly after this transition, Ron became the President and majority shareholder of RG Medical Diagnostics.
After running the Company for over 25 years, Ron determined it was time to transition into retirement. He and his business partners engaged Calder Capital to assist in the sale of the Company.
“It has been a privilege to lead the RG Medical team in providing excellent medical products in the field of patient temperature management for several decades. We are particularly appreciative of the opportunity to work with the Special Operation Medical Association and the Marine Corps Systems Command. I am confident that Ryder Stagg, the new owner, will continue to build these relationships going forward. Additionally, Matt Baas was a pleasure to work with in the process of closing one chapter of RG Medical and opening a new one,” stated Ron LeTourneau.
RG Medical Diagnostics was purchased by Fox Hill Capital, Inc. Ryder Stagg formed Fox Hill Capital for the purpose of the acquisition. Mr. Stagg has extensive experience in the distribution of health care products.
Ryder Stagg is the CEO of the distribution company, Midwest Discounters. Midwest Discounters distributes closeout inventories primarily in the consumer health and licensed sports merchandise categories. He will be using his previous experience in the industry to successfully manage RG Medical Diagnostics.
Ryder Stagg noted, “I was drawn to RG due to my background in business and sports medicine along with many synergies between my existing company and RG. I am looking forward to building on the strong foundation that Ron is leaving behind as he enters a well-deserved retirement. I am also looking forward to working with the incredible team that he has assembled here. Furthermore, I also appreciate all of Matt’s help throughout the process as this was my first acquisition.”
Matt Baas, Mergers and Acquisitions Advisor at Calder Capital, was the lead advisor on the transaction. He worked closely with Ron LeTourneau and Rick Beauchamp, a shareholder and the Company’s controller, to find the ideal successor for the Company.
Matt Baas commented, “RG is a high-quality business providing life-saving medical products. It was a pleasure to support the company through this sale process and we are incredibly proud to have advised another client to a successful outcome. It was a real pleasure working with the RG Medical team on this deal and also finding a knowledgeable and supportive investor in Ryder. I look forward to following RG’s journey under new ownership and wish the team well.”
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to RG Medical Diagnostics.
The terms of the transaction were not disclosed.
