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December 30, 2020
Private Equity

Argosy Invests in Bionix, LLC

On December 30, 2020, Argosy Private Equity invested in Bionix, LLC. This is the first investment made in Argosy’s sixth lower middle market fund.

Bionix, headquartered in Toledo, OH, was co-founded in 1984 by Drew Milligan, Ph.D. and Jim Huttner, M.D., Ph.D. after seeing a need for disposable ear curettes. Since then, Bionix has become a leading developer of innovative healthcare products for ear, nasal, and wound care applications, among others, that uniquely meet physicians’ needs. Backed by a strong patent portfolio, Bionix is a premium brand for innovative features and superior performance relative to low-cost commodity alternatives. Bionix proudly manufactures its products in the United States and serves customers in every region of the world.

Our new partnership with Argosy will allow Bionix to take our innovation process to the next level. I’m looking forward to the opportunity of bringing our aggressive pipeline of new products to life and sharing them with our customers around the world” said Jim Huttner, M.D., co-founder, medical director and vice president of product development.

We are thrilled to be partnering with the Bionix team to implement growth strategies for Bionix, including the introduction of a variety of new products that Bionix has ready to launch. We look forward to working with the team and to leveraging components of our Value Acceleration Methodology (VAM™)” said Kirk Griswold, Founding Partner at Argosy.

We have spent a great deal of time and energy assessing our products, people and strengths. Working with Argosy, we are positioned to realize our corporate goals as we have outlined them in our strategic growth initiatives,” said Chris Becker, president and CEO.

Argosy, with management, has begun execution of its Value Acceleration Methodology (VAM™), starting with implementing growth strategies for Bionix, which include further penetration of existing sales channels, continuing new product development, and pursuing strategic add-on acquisition opportunities.

Argosy will continue to source investments for its sixth fund to partner and invest with lower middle market niche manufacturing and business to business services companies that have a substantial ability to grow.

For more information on this investment, please contact Kirk Griswold, Founding Partner, at (610) 971-9685 or