Injection molder and medical-device contract manufacturer Helix Medical LLC is boosting its design, development and manufacturing capacity with the purchase of MedVenture Technology Corp. of Jeffersonville, Ind.
Helix, based in Carpenteria, Calif., acquired MedVenture from private equity firm Ampersand Capital Partners of Wellesley, Mass., for undisclosed financial terms. Helix is a business unit of family-owned Freudenberg & Co. KG, based in Weinheim, Germany.
MedVenture's expertise in product design, development and engineering brings a new dimension to Helix, whose strength has been in making components and subassemblies, Helix President and CEO Jorg Schneewind said in a telephone interview.
MedVenture develops and manufactures minimally invasive surgical devices and catheter-based devices for medical-device companies at its Jeffersonville plant, near Louisville, Ky. Its capabilities include plastic extrusion. The company employs more than 260. In February it opened a branch office in Minnetonka, Minn.
“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,” Schneewind said in an Oct. 17 news release.
He said MedVenture will be a Helix Medical division and retain its existing management and locations.
“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 MedVenture CEO Kevin Pramer.
This is the third acquisition for Helix since its 2004 startup, Schneewind said. The firm also has two joint ventures. The acquisitions are helping the company to grow, but it also has seen internal organic growth of 10 percent or better every year, he said. He expects revenues of $160 million next year.
Helix has manufacturing sites in California, Massachusetts, Indiana, Costa Rica, Germany, Ireland and China, and employs about 1,000.