PolyTen LLC's original investment partner
Posted: 05-03-2006
On April 30, 2003, PolyTen LLC’s original investment partner, Bison Investments of Tampa, FL, sold 100% of its interest in PolyTen to senior management and HKW Capital Partners II, LP of New York, NY.
The senior management including William J. Cude, III (President), J. Michael Cude (Exec. Vice President), Don McClintock (VP Sales & Marketing), and Debra Manning (VP Quality & Regulatory Affairs) have significantly increased their stake in the new company. All senior managers have extensive experience in the design, manufacture, and marketing of Class 1 and 2 medical devices. Management will continue to maintain exclusive control of operations with HKW providing support at a strategic level.
HKW, Inc. is a 100-year old firm that started as a merchant bank. Their mission is to invest in and build world-class manufacturers where management has a significant ownership stake. HKW has offices in New York, Indianapolis, and Chicago. Coeur, Inc will be their first investment in a medical device firm. Jim Futterknecht, a senior principal at HKW stated, “Coeur’s management team is very strong and has made a substantial commitment to the company. We are very excited about partnering with them as they continue to grow the business.”
The new company will be named Coeur, Inc. to reflect the company’s increased commitment to it’s branded line of medical products. The new company will remain at its current location at 209 Creekside Drive in Washington, NC.
Coeur, Inc will consist of two divisions, Coeur Medical and Coeur Plastics. The Coeur Medical division markets high volume, high-pressure syringes used for the delivery of contrast agents during medical imaging procedures performed in the Cardiac Cath Lab, Interventional Radiology, and CT Labs. All products are manufactured, assembled, and packaged in the company?s state-of-the?art facility in Washington, NC. Coeur Plastics offers a full complement of services ranging from design, injection molding, assembly, and packaging to both the industrial and medical marketplace.
According to Jay Cude, Coeur, Inc.’s President, “Having HKW, Inc as an investment partner provides the company with resources that will allow us to significantly grow our business through new product development and strategic acquisitions.”
All questions should be directed to Don McClintock at 1-800-296-5893, Ext. 229