Cirtec Medical Announces Acquisition of Vascotube Gmbh
MINNEAPOLIS (PRWEB) December 04, 2017 -- Cirtec Medical LLC, a leading provider of design and contract manufacturing services for implantable and minimally invasive surgical devices, today announced that it acquired Vascotube Gmbh, a leading manufacturer of high quality nitinol tubing, located in Birkenfeld, Germany.
Founded in 2004, Vascotube processes nitinol tubing used in minimally invasive implantable medical devices. Nitinol’s properties of superelasticity and unique shape memory capabilities make it an ideal material for use in scaffold-like medical devices, such as peripheral and vascular stents, replacement heart valves, and embolic protection filters, that are compressed, inserted into the body intravenously and then expanded to pre-set shapes. Vascotube’s proprietary manufacturing process and focus on quality has made it a leading provider in its target markets and with its customers.
“Vascotube complements our capabilities to include precision nitinol tube drawing,” said Brian Highley, CEO of Cirtec. “It also expands our geographic footprint into Europe and further diversifies Cirtec’s exposure to a broad range of highly attractive and rapidly growing therapeutic categories with industry leading customers and products. We are thrilled to be adding a new set of highly differentiated capabilities to offer our customers.”
Uwe Seiler, Managing Director, Vascotube added, “We are happy to have found a strong partner in Cirtec that can help us grow our sales footprint and better support our customers. The Cirtec and Vascotube offerings are highly complementary and focus on quality, high-end technical products and solutions that are customized to serve the critical needs of our customers. We are excited about the next chapter of growth that can be achieved by partnering with Cirtec.”
This acquisition aligns with Cirtec’s strategy to vertically integrate and expand its capabilities within minimally invasive interventional therapies. The combined business will have enhanced capabilities across components and fully assembled devices allowing Cirtec to better serve its customers. Vascotube’s current management team will remain in their current leadership roles with the company and the company will be become ‘Vascotube, A Cirtec Company’.
About Cirtec Medical
For over 30 years, Cirtec has been providing design, development, manufacturing, and product transfer services to the medical device industry. With facilities in Brooklyn Park, MN; Enfield, CT; and Los Gatos, CA, the company specializes in outsourcing solutions for active implantable devices in the areas of neuromodulation & neurostimulation, drug delivery, cardiac rhythm management, mechanical circulatory support, and minimally invasive surgical devices.
Susan Overby, Cirtec Medical, http://www.cirtecmed.com, +1 763.235.8704, [email protected]
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