Helix Medical buys MedVenture Technology

By Frank Antosiewicz
Correspondent

Published: October 19, 2012 6:00 am ET

Related to this story

Topics Medical, Mergers & Acquisitions, Injection Molding, Design

CARPINTERIA, CALIF. (Oct. 19, 3:40 a.m. ET) — Injection molder and medical device contract manufacturer Helix Medical LLC is boosting its design, development and manufacturing capacity with the acquisition of MedVenture Technology Corp. of Jeffersonville, Ind.

The company purchased MedVenture from Ampersand Capital Partners, a Wellesley, Mass., private equity firm. Financial details were not announced.

“MedVenture will deepen our resources in product design, development and engineering, and enable Helix to offer more comprehensive product lifecycle management and be a stronger strategic partner to our customers,” said Helix President and CEO Jorg Schneewind, in a news release.

MedVenture, established in 1998, is headquartered in Jeffersonville which is near Louisville, Ky., and has more than 260 employees. It has a manufacturing plant in Jeffersonville, and also an office in Minnetonka, Minn. The company develops and manufactures minimally evasive surgical devices and catheter-based devices for medical device companies.

“Our global reach with now more than 10 facilities around the world will allow MedVenture to expand their services into new regions and tap into Helix’s core strengths in thermoplastic and silicone molding and extrusion plus specialty catheters and hypotubes,” said Schneewind.

In an telephone interview, Schneewind expanded on the new combination, noting that Medventure’s design and development expertise gives Helix a new dimension. Helix’s strength has been in making components and subassemblies.

“They will continue as a division of Helix Medical with the existing management and the existing locations,” he noted.

Helix Medical, a division of the Freudenberg Group, has manufacturing sites in California, Massachusetts, Indiana, Costa Rica, Germany, Ireland and China. It now has about 1,000 employees.

Schneewind said that this is the third acquisition for Helix since it started in 2004. It also has two joint ventures. He said that the additions are helping grow the company, but that it also has had organic growth that has been 10 percent or better every year. He is expecting revenue of $160 million next year.

“The MedVenture team is excited to be part of the long-term growth of Helix Medical and we plan to leverage the additional resources to continue our achievements in the design, development and manufacture of minimally invasive medical devices,” said Kevin Pramer, CEO of MedVenture.


Comments

Helix Medical buys MedVenture Technology

By Frank Antosiewicz
Correspondent

Published: October 19, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

Nolato Contour beefs up white room molding capabilities

September 18, 2014 11:56 am ET

Nolato Medical has extended its controlled environment options to include a white room at its Baldwin, Wis., Nolato Contour plant.    More

Badger buys competitor Joseph Homa

September 17, 2014 4:04 pm ET

Badger Plug Co. has extended its protective plugs customer base by acquiring and closing a rival, Joseph Homa Consultants Inc. of Montreal.    More

Image

Cascade Engineering founder Keller to step down as CEO

September 16, 2014 8:33 pm ET

Cascade Engineering Inc. is undergoing a transition as President Mark Miller will also add the role of CEO, replacing founder Fred Keller, who has...    More

Image

Canadian, Mexican injection molders form auto supply joint venture

September 16, 2014 2:26 pm ET

A new automotive parts manufacturer will open in Querétaro, Mexico, through a joint venture between Canadian automotive supplier Papp Plastics and Dis...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events