Vention Medical buys tubing supplier RiverTech

By Michael Lauzon
Correspondent

Published: July 16, 2013 12:49 pm ET
Updated: July 16, 2013 12:56 pm ET

Related to this story

Topics Medical, Mergers & Acquisitions, Injection Molding, Pipe/Profile/Tubing, Extrusion

Medical device major Vention Medical is expanding again through acquisition.

The South Plainfield, N.J., company said it has bought RiverTech Medical LLC of Chattanooga, Tenn., for undisclosed terms. RiverTech specializes in polyimide tubing, braided polyimide, composite tubing and wire coatings for medical devices.

The purchase will strengthen Vention's development and production capabilities in balloon catheters, catheter assemblies and other minimally invasive medical devices, Vention said in a July 9 news release.

"The addition of RiverTech further strengthens Vention's ability to deliver innovative component technologies to our partners, allowing us to provide customers with more complex solutions faster," noted Vention Medical CEO Dan Croteau in a news release.

Vention expanded in 2011 with the purchase of Atek Medical Group of Grand Rapids, Mich, a medical contract manufacturer with plants in the United States and Costa Rica. In the previous year Vention merged with medical heat-shrink tubing and catheter balloon producer Advanced Polymers Inc. of Salem, N.H. The latter deal launched Vention into the catheter-based market.

RiverTech's shareholders will become Vention shareholders in the acquisition and will continue to lead the RiverTech business, Croteau said.

Vention specializes in components and devices for interventional and minimally invasive surgical products.

Besides the technologies RiverTech brings to the table, Vention's capabilities include heat shrink tubing, complex extrusions, clean room injection molding, catheter balloon production, assembly and packaging.


Comments

Vention Medical buys tubing supplier RiverTech

By Michael Lauzon
Correspondent

Published: July 16, 2013 12:49 pm ET
Updated: July 16, 2013 12:56 pm ET

Post Your Comments


Back to story


More stories

Image

Optical disc molder OEM getting into micromolding with acquisition of CDA

August 29, 2014 11:24 am ET

Optical disc replicator and molder Optical Experts Manufacturing Inc. of Charlotte, N.C., has expanded its core business and entered new high...    More

Image

Baxter investing $300 million to expand dialyzers production in Alabama

August 29, 2014 12:53 pm ET

Baxter International, Inc. is expanding its Opelika, Ala. manufacturing location to boost production of dialyzers, a key component of hemodialysis...    More

Image

Obituary: Jerry Williams, Prism Plastics co-owner

August 29, 2014 8:50 am ET

Williams founded Prism Plastics with Rod Bricker and Gerry Phillips, after the three left Huron Plastics Group in 1999.    More

Polish injection molder Teknorubber up for sale

August 29, 2014 9:14 am ET

Polish plastic parts maker Teknorubber has been put up for sale following its insolvency filing in March 2014. The company is to be auctioned through ...    More

Image

Obituary: Frank Nissel, Welex Inc. co-founder

August 28, 2014 1:01 pm ET

Friends, family and business acquaintances will remember Nissel as an urbane, outgoing machinery executive, an expert on extrusion, a globalist who co...    More

Market Reports

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

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events