BOSTON– [ BUSINESS WIRE ], March 17 2023 – New Heritage Capital (“Heritage”) is pleased to announce the successful exit of its investment in Rhythmlink International, LLC (“Rhythmlink” or the “Company”). The Company has partnered with Graham Partners, a Philadelphia-based private equity firm, for its next phase of growth.
Founded in 2002 and headquartered in Columbia, SC, Rhythmlink is the market-leading designer and manufacturer of single-use brain health and neurodiagnostic electrodes. Over its 20-plus-year history, Rhythmlink has developed the most robust product portfolio in the industry, which includes innovative imaging compatible and rapid response electrode solutions designed to improve and expand applications for brain health testing. Heritage worked closely with the Rhythmlink management team to execute a comprehensive strategic and operational growth plan that resulted in strong growth and sets up the Company well for continued expansion.
Shawn Regan, CEO of Rhythmlink, said, “Over the last few years we have launched new products, entered new markets, and made acquisitions, realizing significant change and growth. Heritage was an excellent strategic and financial partner that helped us navigate through that change, all while encouraging us to hold onto the Company culture that makes us who we are.”
“We are incredibly proud of what the Company and team has accomplished during our partnership,” said Melissa Barry, Partner at Heritage. “It has been a pleasure working with them and we look forward to following their continued success.”
Piper Sandler Co. served as financial adviser and Latham & Watkins LLP served as legal adviser to Rhythmlink and Heritage.
About New Heritage Capital
Heritage is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. With its innovative investment structures like the Private IPO®, Heritage provides founders with a combination of liquidity and growth capital while allowing founders to maintain control of their business. With decades of experience at managing growth, Heritage gives its partners the strategic, operational and financial guidance to help its companies reach their growth objectives. For more information, please visit: www.newheritagecapital.com.
Rhythmlink is a leading designer and manufacturer of single-use neurodiagnostic electrodes used to identify, elicit, and record neurophysiological signals. Its innovative product portfolio includes applications for intraoperative monitoring (IONM), electroencephalography (EEG), and electromyography (EMG). Rhythmlink’s unwavering commitment to innovation, quality and customer service has entrenched it with end users at leading hospitals, health systems, epilepsy centers, and service providers across the U.S. https://rhythmlink.com/
The above quote is provided by Shawn Regan, the CEO of Rhythmlink. Mr. Regan is not an investor in any New Heritage Capital fund and was not paid for the quote included above. However, due to his position at Rhythmlink, he may be inclined to have a favorable view of New Heritage Capital.