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

RJG buys UK training group G&A

September 30, 2014 11:10 am ET

G&A Moulding Technology Ltd., a United Kingdom-based training and consultancy group, has been bought by RJG Inc., the U.S.-based training business.    More

Image

Ohio molder Denbro Plastics moves to new location

September 29, 2014 6:17 pm ET

Logo products injection molder Denbro Plastics Co. has moved to another plant within Toledo, Ohio, to streamline production and improve efficiency.    More

Image

Clariant extends reach into Asia with acquisition

September 29, 2014 9:54 am ET

Clariant International Ltd. is buying VitaPac (HK) Industrial Ltd., a Hong Kong-based company which produces desiccant packets for the healthcare...    More

Image

Global giant Foxconn to make, sell molding machines

September 26, 2014 2:48 pm ET

For years, Taiwan's Foxconn Technology Group has been the world's largest contract manufacturer for electronics, with more than 1 million employees...    More

Image

Nypro Healthcare continues to grow following Jabil acquisition

September 26, 2014 1:59 pm ET

Nypro Healthcare's newest medical device manufacturing facility offers 200,000 square feet of carefully configured Class 8 clean room molding and asse...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events