The Orangeburg, South Carolina-based manufacturer of catheter components and other medtech supplies is reportedly working with Goldman Sachs to evaluate the upside of a deal with strategic buyers or private equity firms.
Zeus and Goldman Sachs have both remained quiet on the rumors.
Reuters said its sources pegged the family-owned supplier’s 12-month EBITDA (earnings before interest, taxes, depreciation and amortization) at close to $200 million.
The company makes products for cardiovascular, neurovascular and peripheral devices, including cardiac rhythm management , electrophysiology, structural heart and renal denervation. Its catheter technology is also used in gastrointestinal endoscopies, diabetes treatment, oncology, brachytherapy, urology, neuromodulation, drug delivery cosmetic surgery and ear, nose, and throat applications.
Its products and technologies include Absorv bioabsorbable extrusions, Aeos ePTFE (expanded polytetrafluoroethylene), and Bioweb electrospun nonwoven composites.
Zeus was founded in 1966 by the late Frank Paul Tourville Sr., who died in 2021.
The company says it has more than 2,200 employees across facilities in Aiken, Columbia, Gaston, Orangeburg and St. Matthews, South Carolina; Arden Hills, Minnesota; Branchburg, New Jersey; Chattanooga, Tennessee; San Jose, California; Guangzhou, China; and Letterkenny, Ireland.
Zeus most recently opened a new catheter manufacturing facility in Arden Hills. The 75,600-ft² building is home to CathX Medical, which Zeus acquired 2021.