El Paso, Texas-based injection molder and medical device extruder Seisa Medical Inc. has acquired two San Francisco Bay Area companies.
The two firms are Peridot Corp., which supplies metal-based components and mechanical assemblies to the medical market, and prototype part supplier ProtoQuick Inc.
"Seisa establishes a strong presence in the Bay Area, a hub of innovation in the medical device sector," Julio Chiu, founder and CEO of Seisa Medical, said in a March 15 news release. "This acquisition demonstrates Seisa's commitment to investing in vertical capabilities to create end-to-end solutions that deliver value to our customers."
"The transactions add considerable expertise to Seisa's plastics and metals capabilities while also giving the Bay Area companies' customers the opportunity to leverage Seisa's global infrastructure for high-volume production of FDA Class II and Class III devices," the release said.
Pleasanton, Calif.-based Peridot founders Patrick Pickerell and Debra van Sickle and San Leandro, Calif.-based ProtoQuick founders Carl Anderson and Ken Staal will continue in their current roles, it said.
"The synergy created by Peridot's advanced machining capability coupled with Seisa's laser tube cutting and high-volume offerings make for a powerful device manufacturing partner for today's medical device market," Pickerell, president and co-founder of Peridot Corp., said.
"[This] gives us the opportunity to give our customers a path from design to prototyping to volume manufacturing," Anderson and Staal, founders of ProtoQuick, added.
Seisa employs more than 2,400 people at its facilities in Texas, New Jersey, California, Mexico and Slovakia, manufacturing products including implantable stents, tubing sets, catheter-based products and orthopedic care products.
The company previously set itself a target to grow through acquisitions to add to its expertise and geographic reach.
MBS Advisors of Florence, Mass., represented ProtoQuick in the transaction.