Freudenberg adds yet another medical acquisition

ERJ staff report (DS)

Weinheim. Germany -- The Freudenberg Group is acquiring MedVenture Technology Corporation, an American company headquartered in Jeffersonville, Indiana, as part of its expansion strategy.

The corporation is one of the leading designers and manufacturers of medical technology solutions for minimally invasive surgical devices. MedVenture Technology currently employs 260 associates. The company is a designer, developer, and manufacturer of complete non-electronic minimally invasive surgical devices and catheter-based devices. One of MedVenture Technology's most successful products is the hemostasis clip device which is used to stop bleeding in the gastrointestinal tract. Other products include microcatheters for applications such as surgical procedures on peripheral blood vessels and special catheters used for taking tissue samples from the gastrointestinal tract.

Helix Medical is targeting sales in excess of US $140 million in 2013 through the acquisition of MedVenture and other expansion steps.

Helix first entered the field of minimally invasive surgery in 2010, with the acquisition of a 50 percent stake in the Irish manufacturer VistaMed. VistaMed specialises in high-quality specialty catheters and complex extruded tubing systems for the medical device industry. This expansion strategy continued with a strategic investment in Cambus Medical in August 2012. Cambus manufactures high precision hypotubes and micro-component solutions for advanced catheter systems.

The company has also expanded its geographical reach. In September 2012, the Freudenberg Business Group Helix Medical opened its first manufacturing facility in Costa Rica, where it produces silicone tubing and silicone and thermoplastic molded components for medical devices.

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Press release from Freudenberg