Vention Medical Acquires Lithotech Medical
Addition of nitinol wire-based technologies offers customers expanded solutions
SOUTH PLAINFIELD, N.J. (January 24, 2017) — Vention Medical announced today its recent acquisition of Lithotech Medical, an industry leader in complex nitinol wire-based technologies based in Israel. The acquisition will expand Vention’s broad portfolio of advanced components and technologies for the development and manufacturing of medical devices for the interventional market.
In addition to supplying discrete nitinol components, Vention will now have the capability to seamlessly integrate nitinol into customers’ design and development projects. With its ability to scale, Vention will be able to leverage nitinol-based technologies for the manufacturing and assembly of devices from low-volume prototypes to high-volume production.
“Partnering with this talented group of nitinol experts expands our portfolio of advanced components and technologies as well as our applications expertise,” said Tom Testa, President of Vention’s Advanced Technologies business. “Together, we can further provide more leading-edge technologies to advance our customers’ medical device innovations faster and more cost effectively.”
Founded in 2001, Lithotech Medical employs a multidisciplinary team of technical experts including physicists, material and mechanical engineers, and regulatory and quality control experts. The team has designed and developed more than 100 products for customers worldwide, with dozens of products currently on the market.
About Vention Medical
Vention Medical is a global integrated solutions partner with more than 30 years of experience in design, engineering and manufacturing of complex medical devices and components. Vention Medical specializes in components and services used in interventional and minimally invasive surgical products including catheters, reinforced shafts, balloons, extrusions, polyimide tubing, heat shrink tubing, PTFE liner tubing, molded components, and finished device assembly and packaging. Visit Vention at ventionmedical.com.
About KRG Capital Partners
Founded in 1996, KRG is a Denver based private equity buyout firm focused on “buy and build” investment opportunities in the lower middle market. KRG has approximately $4.4 billion of cumulative capital either deployed or available for future investment, which includes approximately $1.2 billion deployed since inception by institutional equity co-investors. The Firm seeks investment opportunities where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. Visit KRG at www.krgcapital.com.
For more information please contact:
Stew Fisher, KRG Capital Partners