GREENWICH, Conn. and MULLINGAR, Ireland (PRWEB) February 22, 2021
Great Point Partners’ portfolio company, SteriPack Group (“SteriPack”), a leading contract manufacturing and value-added service provider to the medical device and pharmaceutical (primarily drug-device combination products) industries, has acquired Morristown, NJ based HS Design Inc. (“HSD”). HSD is an ISO 13485 certified product development company specializing in advancing the future of healthcare through design.
Together, SteriPack and HSD will provide flexible and responsive design, development and contract manufacturing solutions, integrating holistic product lifecycle management services.
For over 40 years, HSD has teamed up with world-class corporations, institutions, researchers, and clinicians in designing leading-edge medical devices. By providing innovative solutions to the most intricate design problems, their efforts directly benefit clients, patients, and healthcare providers. HSD's personalized approach to solving problems, coupled with a certified design process, has catapulted award-winning product design solutions to the industry's forefront.
HSD has extensive experience integrating human factors in design, resulting in safer and more intuitive products for users. HSD's user-centered design process forms the foundation for their industrial and interaction designers. They excel at balancing product architecture requirements with visual elements in digital and physical embodiments, encompassing all aspects of usability while being sensitive to aesthetic design and branding requirements. These front-end efforts, coupled with HSD's strong engineering capabilities balance technical functionality with manufacturing quality, reliability, and value.
"Looking forward, HSD will enhance SteriPack's team to include an agile organization focused on creative problem solving and design with strong technical expertise," said Andrew McLean, CEO of SteriPack. "Additionally, this acquisition further expands our operations in the United States. We will now have the ability to provide a full suite of product lifecycle services, commencing with new ideas all the way through to manufacturing and commercialization."
"SteriPack's shared values, culture, and innovation make it an ideal fit for HSD," said Tor Alden, President of HS Design. He further commented, "The combination of our companies takes advantage of the strengths in both organizations. HSD has a history of collaboration that will continue and grow with SteriPack's regulatory and global manufacturing. We are excited to become the innovation and design center for SteriPack, serving existing and new clients."
Bret Tenenhaus, Senior Vice President at Great Point Partners added, “Enhancing our capabilities in design and development to complement our manufacturing, assembly, and packaging services was a core part of SteriPack’s strategic plan. We are thrilled that Tor and the entire HSD team have joined SteriPack.”
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $1.3 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III, which has $307 million of committed capital. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III) and public equity funds (BMVF, approximately $1.4 billion). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, pharmaceutical infrastructure, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or http://www.gppfunds.com
About SteriPack Group
SteriPack offers contract manufacturing and contract packaging services, from initial concept to finished product, for the world's leading medical device, pharmaceutical, diagnostic, and allied healthcare industries. Their global reach expands to more than 50 countries.