Freudenberg & Co. KG and its affiliate Helix Medical Europe have purchased a 50 percent stake of VistaMed Ltd., an Irish manufacturer of medical-device components.
VistaMed is based in Carrick-on-Shannon, Ireland, and has two production plants in the country. The firm employs 85 and makes complex medical tubing and components in clean-room conditions.
The deal advances Freudenberg's move into the European medical market. A year ago, the company set up a European headquarters for medical technology in Kaiserslautern, Germany.
VistaMed makes components for catheters for minimally invasive surgical procedures and endoscopic components.
In a news release, Weinheim-based Freudenberg said the alliance with VistaMed will broaden the companies' range of materials and their product spectrum. Freudenberg is aiming to develop complete catheter systems.
Freudenberg has grown through acquisitions in the medical market, starting in 2004 with its purchase of Jenline Industries Inc., a U.S. maker of liquid silicone rubber products for the medical-device and health-care markets. The company added Helix Medical Inc. in 2006, followed by Anura Plastics Engineering Corp. in 2008. The medical businesses have been integrated into one company Carpinteria, Calif.-based Helix Medical LLC.
The alliance with VistaMed provides greater opportunities for both companies to develop and manufacture a broader range of innovative products, Jorg Schneewind, president and CEO of Helix Medical LLC, said in the news release.
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