Avesi Partners has invested in New Age Medical, a St. Louis-based company serving the spinal surgery market, for undisclosed terms. Avesi has partnered with New Age founder and CEO Kevin Bly and the company’s existing management team. New Age was founded in 2012 and sits between medical device manufacturers, hospitals and ambulatory surgery centers, surgeons and device sales representatives. It works nationwide with more than 85 original equipment manufacturers, over 100 reps, more than 200 hospitals and ASCs and over 350 surgeons. It supplies spinal implants, orthobiologics and related products. According to the company, its model reduces supply chain complexity and allows hospitals and ASCs to consolidate vendors.

“Avesi has targeted innovative businesses that help hospitals and health systems deliver the highest standards of care while reducing administrative burden,” said Pete Tedesco, managing director at Avesi. “New Age delivers this value to its stakeholders and operates in a large, growing market with substantial opportunity to expand.” Tedesco added that Avesi aims to “extend the Company’s impact across new specialties and markets.” Avesi has offices in Stamford, Connecticut, and Richmond, Virginia, and more than $2.2 billion in assets under management. It invests in lower mid-market privately held and family-owned businesses in sectors including healthcare services and technology and business services. It typically targets platform companies with about $5 million to $30 million of EBITDA.