Argosy-Backed Command Medical Bets on Outsourcing Boom with New CEO

Ormond Beach, FL – November 13, 2025 – Command Medical Products, a leading provider of contract manufacturing services for the medical device industry, today announced the appointment of Mike Fillion as its new Chief Executive Officer. The transition marks the retirement of Jim Carnall after 16 years of service and comes alongside a strategic investment by private equity firm Argosy Healthcare Partners, signaling a bold bet on the rapidly expanding medical device outsourcing market.

Fillion, a seasoned executive with a strong track record in operations and manufacturing, will lead Command Medical through a period of anticipated growth. The company specializes in producing disposable medical devices and components for a diverse range of applications, including cell and gene therapy, drug delivery, and robotic-assisted endoscopy.

“We are thrilled to welcome Mike to Command Medical,” said a representative from Argosy Healthcare Partners. “His leadership experience and operational expertise will be invaluable as we execute on our strategic plan to scale the business and capitalize on the increasing demand for outsourced medical device manufacturing.”

Riding the Wave of Outsourcing

The timing of the leadership change and investment aligns with a significant trend in the medical device industry. Global market research indicates the medical device contract manufacturing market is experiencing substantial growth, estimated at approximately $76.8 billion in 2024 and projected to reach $151.98 billion by 2030, representing a compound annual growth rate (CAGR) of 12.36%. The forces driving this growth are multifaceted.

“The industry is seeing a clear shift towards outsourcing,” explained a source familiar with the contract manufacturing sector. “OEMs are increasingly looking to partners like Command Medical to handle manufacturing, allowing them to focus on innovation, R&D, and core competencies.” This trend is fueled by the rising complexity of medical devices, increasing regulatory burdens, and the need for specialized expertise and infrastructure.

Command Medical’s core strengths – its established operational foundation, trusted customer relationships, and reputation for manufacturing excellence – made it an attractive target for Argosy Healthcare Partners. The firm specializes in investing in founder-owned healthcare businesses and aims to provide the capital and strategic guidance needed to accelerate growth.

“Argosy’s investment isn’t just about providing capital,” noted a healthcare analyst. “They’re partnering with a company that already has a solid foundation and a clear understanding of the market. They’ll likely focus on helping Command Medical expand its capabilities, improve operational efficiency, and pursue new market opportunities.”

Argosy's Strategic Play

Argosy Healthcare Partners' focus on lower middle-market healthcare companies, specifically those with $1.0 - $3.0 million in EBITDA, highlights a strategic investment approach centered on growth potential and operational improvement. This targeted investment in Command Medical signals a belief in the company’s ability to navigate the evolving landscape of the medical device industry.

The firm’s investment philosophy centers on partnering with founder-owned businesses to support their culture and reinvest in their operations. This strategy is designed to help portfolio companies scale and better serve customers amidst a surge in demand for outsourcing.

“Argosy’s focus on founder-owned companies is a key differentiator,” explained an industry observer. “They understand the importance of preserving the company’s culture and values while also providing the resources needed to grow. This approach can be particularly effective in the healthcare industry, where trust and relationships are so important.”

Navigating Industry Challenges and Opportunities

The medical device contract manufacturing market is not without its challenges. Stringent regulatory requirements, the need for specialized expertise, and increasing cost pressures all present hurdles for contract manufacturers. However, the long-term growth prospects remain strong.

“The regulatory landscape is definitely a challenge,” acknowledged an insider. “But companies like Command Medical that have a strong quality management system and a track record of compliance are well-positioned to succeed. The demand for innovative medical devices is only going to increase, and that will continue to drive growth in the contract manufacturing market.”

Several key trends are shaping the future of the industry. The adoption of advanced manufacturing technologies, such as automation and additive manufacturing, is helping contract manufacturers improve efficiency and reduce costs. The rise of personalized medicine is driving demand for smaller, more specialized medical devices. And the increasing focus on supply chain resilience is prompting OEMs to diversify their manufacturing base.

“The industry is becoming more sophisticated,” explained a supply chain expert. “Contract manufacturers need to be able to offer a full range of services, from design and engineering to manufacturing and supply chain management. Those that can do that will be the most successful.”

A Smooth Transition

The transition from Jim Carnall to Mike Fillion appears to be a well-planned succession. Carnall’s retirement comes after 16 years of dedicated leadership, during which he established a strong foundation for the company’s future growth. The appointment of Fillion, with his extensive experience in operations and manufacturing, signals a commitment to operational excellence and continued innovation.

“The transition appears to be seamless,” noted an observer familiar with the company. “Fillion is a seasoned executive with a proven track record, and the company is well-positioned to continue its growth trajectory.”

The company's strategic investment from Argosy Healthcare Partners and the appointment of a new CEO mark a pivotal moment for Command Medical Products. By capitalizing on the growing demand for outsourced medical device manufacturing and navigating the evolving industry landscape, the company is poised for continued success. The future looks bright as Command Medical embarks on its next phase of growth and innovation.