Carpinteria, Calif. (October 17, 2012)
Helix Medical, LLC, a global manufacturer for the medical device and healthcare industries, today announced the acquisition of MedVenture Technology Corp., a medical device design, development, and manufacturing company with offices in Jeffersonville, IN and Minnetonka, MN. The company was purchased from Ampersand Capital Partners, a private equity firm based in Wellesley, MA, focused on middle market growth equity investments in healthcare.
Established in 1998, MedVenture is headquartered in the Louisville, Kentucky metropolitan area and employs over 260 associates. MedVenture develops and manufactures minimally invasive surgical devices and catheter-based devices for medical device companies, including Fortune 500 and medical device start-ups. The company develops integrated solutions for the endovascular, interventional cardiology, cardiovascular surgery, neurovascular, urology, oncology, and gynecology markets, among others.
This acquisition will enhance Helix Medical’s ability to offer its customers a full spectrum of design and manufacturing services for innovative medical devices. “MedVenture will deepen our resources in product design, development, and engineering and enable Helix to offer more comprehensive product lifecycle management and be a stronger strategic partner to our customers,” said Dr. Jorg Schneewind, President and CEO of Helix Medical. “While our global reach, with now 10 facilities around the world, will allow MedVenture to expand their services into new regions and tap into Helix’s core strengths in thermoplastic and silicone molding and extrusion plus specialty catheters and hypotubes. Overall, the combined companies deliver a perfect synergy of complimentary capabilities powered by highly innovative people, advanced technology, and leading-edge processes.”
“The MedVenture team is excited to be a part of the long-term growth of Helix Medical and we plan to leverage the additional resources to continue our achievements in the design, development and manufacture of minimally invasive medical devices,” said Kevin Bramer, CEO of MedVenture Technology. “Superior patient care begins with the newest technology and design strategies delivered with consistency and expertise. MedVenture’s accomplished team, combined with Helix Medical’s core manufacturing services, will allow us to continue to provide superior devices for first-rate patient care.”
Helix Medical, a division of the Freudenberg Group, is a global custom manufacturer for the medical device and healthcare industries with 10 manufacturing operations worldwide. Medical Manufacturing capabilities include design and development, silicone and thermoplastic molding and extrusion, complex catheter systems, assembly, packaging, and engineering services. Helix Medical operates FDA-registered medical device facilities, certified ISO 13485 with Class 7 & 8 cleanrooms. Established in 1984, Helix Medical currently manufactures in California, Massachusetts, Costa Rica, Germany, Ireland, and China.
Ampersand is a Boston-based private equity firm with a focus on middle market growth equity investments in the Healthcare sector. Ampersand leverages its unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand’s portfolio has included more than fifteen years of successful investments in the medical device manufacturing industry.
Holly Bruning, Wells Bruning Communications