cultivate(MD) Announces Acquisition of Portfolio Company SPDx by Instrumentum
GRAND RAPIDS, Mich., June 11, 2025 /PRNewswire/ -- cultivate(MD), a leading medical device venture capital company, is pleased to announce the acquisition of its portfolio company, Sterile Processing Express (SPDx), by Instrumentum, LLC, a fast-growing leader in surgical instrument sterilization services.
This strategic acquisition expands Instrumentum's operational footprint to five facilities across four states, significantly enhancing its capacity to meet the increasing demand for offsite sterile processing driven by the continued rise in elective surgeries at hospitals, clinics, and ambulatory surgery centers (ASCs).
"SPDX could not be more excited to see this relationship and partnership with this special merger coming together with Instrumentum," said David Blue, Director at cultivate(MD) and SPDx Board Member. "We saw this vision early on many years ago, with a huge value proposition to offer both ASC's and Hospitals and we knew that this would be one of those big ideas that would be successfully played out. Exciting times ahead!"
The transaction marks a successful outcome for SPDx's sterile processing model, validating cultivate(MD)'s early investment thesis. As part of Instrumentum, SPDx's operational capabilities will now integrate with a scalable commercial platform, accelerating nationwide expansion and increasing value across the surgical care ecosystem.
"This transaction represents a strategic move that enables the facility launch, quality, and operational expertise of SPDx, to be integrated with the commercial strategy of Instrumentum, ensuring that combined efforts of both teams maximize the potential of this market opportunity," said Matt Ahearn, Director at cultivate(MD) and SPDx Chairman of the Board. "We're confident this asset sale creates long-term value for all stakeholders involved." Mr. Ahearn will continue to serve as a Board Observer of Instrumentum.
This marks a significant milestone for cultivate(MD), underscoring its mission to identify and support innovative healthcare solutions that drive impactful returns and meaningful clinical outcomes.
About cultivate(MD)
cultivate(MD) is a medical device venture capital firm dedicated to advancing healthcare innovation. With a keen focus on cutting-edge medical technologies, cultivate(MD) supports companies that show the potential to revolutionize healthcare delivery and patient care.
For more information, visit: https://cultivate-md.com
About Instrumentum
Instrumentum is an emerging leader in the surgical instrument sterilization field serving outpatient surgery centers and hospitals. Instrumentum's Business Objective is to be the most trusted provider of medical device sterilization services – empowering surgeons and staff to operate at full capacity with confidence by delivering best-in-class sterile processing. With its headquarters and first facility located in the Research Park at Florida Atlantic University in Boca Raton, FL, Instrumentum has four additional facilities operating in Chicago, Phoenix, Long Beach and Modesto. Site selection is now underway for six openings planned in 2026.
For more information, visit www.instrumentum.com.
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This communication contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our plans, beliefs, expectations, assumptions, and other statements that are not necessarily historical facts. You are cautioned that these forward-looking statements are only predictions and involve risks and uncertainties. Further, any forward-looking statement speaks only as of the date on which it is made, and we do not intend to update or revise any forward-looking statements. This communication also contains market data related to our business and industry which includes projections that are based on several assumptions we believe are reasonable and most significant to the projections as of the date of this communication. If any of our assumptions prove to be incorrect, our actual results may significantly differ from our projections based on these assumptions.
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SOURCE cultivate(MD)