This acquisition is part of our broader strategy to accelerate our customers’ time to market, minimize development spend and commercialize innovative solutions for therapy delivery.
MINNEAPOLIS (PRWEB) March 17, 2020
Cirtec Medical Corporation (“Cirtec”), a strategic outsourcing partner for complex medical devices including active implantables and minimally invasive devices, today announced that it has acquired intellectual property and certain assets from Nuvectra Corporation. Cirtec will leverage this technology to support customers’ development of neuromodulation products, providing an FDA approved platform with a complete design history file to leverage for a variety of therapeutic applications.
The Nuvectra assets include all owned intellectual property associated with the spinal cord stimulation (“SCS”), deep brain stimulation (“DBS”) and sacral nerve stimulation (“SNS”) platforms, which are renowned for their patient-centric ease-of-use, and discrete and portable design, together with a versatile and expandable platform that helps sustain therapy for the long-term benefit of patients.
Brian Highley, Cirtec CEO commented, “Cirtec is committed to serving as the leading end-to-end outsource partner in the neuromodulation market. This acquisition is part of our broader strategy to accelerate our customers’ time to market, minimize development spend and commercialize innovative solutions for therapy delivery. Our portfolio of off-the-shelf components; a robust engineering team; and significant manufacturing capacity and expertise make us the leading partner to innovators in the market.”
The acquisition complements Cirtec’s Solace™ Neurostimulation R&D Platform, bolstering the company’s offering across the full range of devices and accessories offered:
- Implantable pulse generator (IPG), trial pulse generator, patient remote, clinician programmer and IPG charger
- A portfolio of 4 to 12 contact percutaneous leads, 4 to 32 electrode paddle leads, extensions and locking anchors
- Vertically integrated printed circuit board assemblies, stamped and machined enclosures, custom connector blocks and feedthroughs
- Over 100 development engineers specializing in the customization of IPGs, leads, peripheral devices, accessories and custom ASIC design
- A variety of sterile packaging solutions, final assembly, and in-house EO sterilization
In addition to the acquisition of the Nuvectra assets, Cirtec has and continues to make considerable investments supporting the neuromodulation market. This includes building an 85,000 sq. ft. manufacturing facility in Brooklyn Park, MN that will serve as a Neuromodulation Center of Excellence and a 30,000 sq. ft. manufacturing facility in the Costa Rica Coyol Free Zone, as well as investing in capabilities in ASIC design and thin film leads technologies.
About Cirtec Medical
Cirtec Medical is a vertically integrated, full-service outsource partner providing end-to-end product design, development and manufacturing of Class III and II medical devices and components. We specialize in today’s most advanced product technologies including, neuromodulation, implantable drug delivery, cardiac rhythm management, ventricular assist and minimally invasive systems including TAVR/TMVR. Cirtec has a global footprint with facilities in Brooklyn Park, MN; Chandler, AZ; Enfield, CT; Los Gatos, CA, Lowell, MA, Alajuela, Costa Rica; and Birkenfeld, Germany.