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

Plastic Omnium makes China investment push

February 26, 2015 4:35 pm ET

Three of the six new plants that automotive molder Plastic Omnium SA plans this year will be in China, part of a broader push it’s making in...    More

Image

German molder picks North Carolina for US manufacturing plant

February 26, 2015 4:21 pm ET

German medical goods company Raumedic AG has chosen Mills River, N.C., for its first U.S. manufacturing site and U.S. headquarters.    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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

Plastics in Mexico - State of the Industry Report

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

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

More Events