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

Auto suppliers announce expansion plans in Slovakia

December 24, 2014 9:11 am ET

Three auto suppliers in Slovakia have announced plans to expand in the country.    More

Image

Blachford Acoustics Group enters European market with UK acquisition

December 23, 2014 3:22 pm ET

Heavy truck interior systems supplier Blachford Acoustics Group has purchased European supplier TMAT Acoustic Technologies Ltd.    More

Image

French investment firm buys Vienna-based Constantia Flexibles

December 23, 2014 3:03 pm ET

Constantia Flexibles GmbH, one of Europe's largest flexible packaging companies, has a new owner.    More

Image

Cretex buys California toolmaker

December 23, 2014 11:34 am ET

Medical device manufacturer JunoPacific Inc. has added tooling capabilities through the acquisition of Lawrence Tool and Engineering in California.    More

Image

Yizumi finally gets green light for IPO

December 23, 2014 10:16 am ET

Press maker Guangdong Yizumi Precision Machinery Co. Ltd. has at last received the green light from Chinese securities regulator for an IPO on the She...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events