Newtown Square, Pa.-based private investment firm Inverness Graham acquired Catheter & Medical Design Inc., based in Roseville, Minn., which develops and manufactures catheters and catheter shafts for interventional and endosurgical applications.
The firm announced the completion of the acquisition in a news release June 18.
"CMD is a highly attractive platform, offering a compelling value proposition to its global, blue-chip customer base," Aliya Khaydarova, managing principal of Inverness Graham said in the release. "As medical device companies continue to outsource their complex design and manufacturing needs, we expect CMD to become an increasingly important strategic partner.
"We look forward to leveraging our industry expertise and robust network to build upon CMD's impressive performance and will look to drive growth both organically and through strategic acquisitions, while also looking to enhance their in-house capabilities and expand geographic reach," Khaydarova added.
"I am very excited about partnering with Inverness Graham to continue the tremendous growth CMD has experienced and to leverage the additional financial and operating resources Inverness has to offer," Lucian Bejinariu, president and CEO of CMD said in the release. "We look forward to the continued expansion of our platform and the ability to offer more complex solutions and capabilities to our customers."
Inverness Graham did not immediately respond to inquiries for comment by Plastics News, including the terms of the acquisition.