Medin Technologies, Inc. Announces Appointment of Bill Donaldson as CEO

TOTOWA, N.J., April 16, 2018 /PRNewswire/ -- Medin Technologies, Inc. announced Bill Donaldson has joined the company as Chief Executive Officer and as a member of its board of directors. Andy Novotny, who has led the company since being acquired by Seven Point Equity Partners a little more than a year ago, announced his resignation and will be assisting in the leadership transition.

Seven Point Managing Partner and Medin board member Tom Burchill stated, "We are thrilled to have Bill join us as CEO and as a member of the board. He brings outstanding leadership qualities, deep manufacturing experience, and a passion for delivering exceptional value to customers. Medin is growing quickly, and we are absolutely confident Bill is the right leader to maximize the company's market opportunity in medical contract manufacturing and at the same time build on the company's existing reputation for world-class quality and customer responsiveness." Seven Point Partner and Medin board member Mark Kammert added, "Our medical device and orthopedic implant OEM customers have extremely high quality, design, and delivery expectations, and we believe Bill, with his strong track record of operational excellence, will enhance these already strong capabilities."

Donaldson has extensive experience leading, innovating and scaling manufacturing businesses globally, including having guided a number of companies through critical transformation periods. As the President of Jeld-Wen Canada, Bill successfully led the growth and transformation of all elements of the business unit through to the recent IPO of its parent company. Donaldson also ran Circor's KF Industries, Sagebrush Pipeline, and Spence Engineering businesses after multiple leadership roles in Danaher's Kollmorgen platform - demonstrating his ability to succeed across a variety of industries. Bill's ability to lead comes from these business transformation experiences, his grounding in highly analytical and process-intensive environments, and his military experience in the U.S. Marine Corps.

"I cannot imagine a more important and exciting time to join Medin Technologies," said Donaldson. "With an outstanding set of world-class customers who are demanding more and more of the company, Medin is well-positioned to grow and diversify its product offering. This is the perfect opportunity for me to combine my operating experience with my passion for working with customers. I look forward to working with this great team and leading Medin Technologies through its next exciting phase of growth."

About Medin Technologies, Inc.

Medin Technologies, Inc., headquartered in Totowa, New Jersey, designs and manufactures a variety of medical products, with a focus on highly engineered, custom-designed sterilization cases and trays, for many of the world's leading providers of orthopedic implants and instruments.  The company collaborates with leading medical OEMs around the world to provide visually arresting, exceptionally durable, and highly reliable sterilization cases that showcase the brand identities of its orthopedic and surgical device customers. A supplier to the medical industry for more than 50 years, Medin is known for its vertical integration, advanced manufacturing capabilities, and short lead times to meet its customers' needs. For more information, please visit www.medin.com.

About Seven Point Equity Partners, LLC

Seven Point Equity Partners, LLC, based in Westport, Connecticut, is an operationally focused, value-oriented private investment firm dedicated to achieving exceptional long-term returns for its investors. Seven Point concentrates on control equity investments in lower middle market companies, principally in North America. Seven Point partners with companies that have complex business and capital structure challenges and can benefit from the ability of Seven Point's Operating Partners to drive operational improvement. The firm's differentiated funding approach allows Seven Point to back management teams patiently over a long investment horizon as they do the hard work to build great businesses and create fundamental value. More information about Seven Point can be found at www.sevenpointpartners.com.

Contact

Tom Burchill

(203) 293-4058

[email protected]

SOURCE Medin Technologies, Inc.