Novanta has closed its $1.45 billion acquisition of Riverpoint Medical from Arlington Capital Partners. Per the June agreement, Novanta pays $1.2 billion upfront plus a $250 million milestone payment in Q1 2027. Riverpoint, based in Portland, Oregon, develops specialized surgical threads and consumables for minimally invasive procedures.

Under Arlington (invested 2019), Riverpoint's revenue grew at 15% CAGR, more than tripling in size organically. This included expanding leadership, scaling US manufacturing, and expanding via Costa Rica's nearshore hub. A 2024 tuck-in acquisition of CP Medical from Theragenics added complementary tools.

Matt Altman says the deal gives Novanta a similar customer base, new technologies, domestic FDA-approved manufacturing, and medical consumables exposure. "Great strategic and cultural fit... financially accretive." Altman expects H2 2026 deal acceleration as seller-buyer valuation gaps narrow. High-quality assets command premium valuations, though not 2021 peaks. Carve-outs, take-privates, and IPO appetite also drive exits.