Tene Investment Funds acquires T.A.G. Medical Products Corporation LTD.
In early July, Tene Investment Funds acquired a 51% controlling stake in T.A.G. Medical Products, a sophisticated surgical device company located in Kibbutz Gaaton.
T.A.G. Medical Products develops, manufactures, and markets surgical tools and implants for Arthroscopic, Orthopedic, and Endoscopic soft tissue procedures.
The US soft tissue repair market is expected to grow 8% per year from $1.05 billion in 2009 to over $1.9 billion in 2016. Hoping to capitalize on this growth, T.A.G. exports 99% of its production to prime customers such as DePuy Mitek, Inc. (a Johnson & Johnson company), Stryker Corporation, and Tornier, Inc.
T.A.G.'s experience and streamlined research and development process places the company in a prime position for growth within the field of sports medicine. The firm has developed eighteen families of inventions that are either patented or patent-pending. In addition, T.A.G's products have gained worldwide regulatory and quality certifications including FDA and CE approvals.
In 2004, Dr. Ariel Halperin established Tene Investment Funds (www.tenecapital.com) as an Israeli private equity fund focusing on established, profitable and growth-export oriented Israeli industrial companies. Among Tene's investments are Netafim – world leader in drip irrigation solutions, Caesarstone – a prominent global manufacturer of quartz kitchen counter tops and vanities, Gazit Industries – a leading manufacturer of extruded plastic products and acrylic boards, and SCR – a global provider of innovative electronic and computerized dairy farming systems.
According to Ran Ben-Or, a partner in Tene Investment Funds: "Tene identified T.A.G. as suitable to its investment strategy in companies which present innovation and excellence in a quickly growing global market. Tene is looking forward to helping the company realize its vast business potential in cooperation with the company's management and with the Kibbutz."