Shore Capital Partners announced an investment in Argentum Medical
January 31, 2017
January 20, 2017 – Shore Capital Partners (“Shore Capital” or “Shore”) today announced that it has completed a growth investment in Argentum Medical, LLC and certain assets of Cura Surgical, Inc. (“Argentum” or the “Company”). 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® (“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.
“Shore Capital is the ideal partner for Argentum as the Company continues to move into a rapid growth phase,” said Raul Brizuela, CEO of Argentum, who will continue to lead the Company’s management team. “I’ve been impressed by Shore’s shared vision with the Company, support of strategic growth initiatives, and proven expertise in the healthcare space. We are excited for the partnership and look forward to accelerating growth of the Silverlon brand worldwide.”
Shore will focus on expanding sales and marketing efforts with U.S. hospitals, burn and wound care centers, as well as with international customers. Additionally, the Company will pursue an aggressive acquisition strategy to broaden its advanced wound care and infection prevention portfolio. Shore will be supplementing the incumbent management team with an experienced board of directors to help support these efforts. The partnership’s goal is to create a leading advanced wound care platform by further penetrating the U.S. market, expanding into additional clinical uses, and pursuing targeted new product innovation.
“We are thrilled to partner with Raul and the Argentum team during this exciting stage of growth for the business,” said Don Pierce, Partner at Shore Capital. “Advanced wound care products, specifically anti-microbial dressings, will continue to provide significant value to hospitals as they strive to improve quality and patient outcomes, decrease costs and mitigate risk. Argentum and Silverlon are uniquely positioned to provide comprehensive solutions for improved wound care management. We look forward to working with the Argentum team to build a market leader in the U.S. and internationally.”
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.