The acquisition of NovelCath will enable Cirtec Medical to further strengthen its structural heart business
Cirtec Medical has acquired US-based NovelCath, a contract manufacturer of highly engineered catheter delivery systems.
Based in Brooklyn Park of Minnesota, NovelCath is engaged in the design, development and manufacturing of minimally invasive interventional delivery systems ranging from structural heart to electrophysiology and neurovascular applications.
NovelCath CEO Tim Maes said: “We are thrilled to be joining Cirtec Medical. This is a tremendous opportunity for our organization and employees to continue our growth trajectory by joining and contributing to the growth of a recognized leader in the medical device space.”
Product portfolio of NovelCath
NovelCath produces braided and coiled reinforced catheter shafts, complex steerable and multi-directional sheath designs, and microcatheters.
The acquisition of NovelCath will enable Cirtec to further strengthen its structural heart business, which consists of design and development, vertical integration of components, and full-device-assembly for both implantable devices and complex delivery systems.
The NovelCath facility, situated adjacent to Cirtec’s Minneapolis headquarters, will turn into Cirtec’s centre of excellence for catheters and delivery systems.
The facility will consist of expanded nitinol processing, catheter development, assembly, packaging, and volume manufacturing capabilities with a line to Costa Rica production.
Cirtec CEO Brian Highley said: “We continually look for ways to expand our manufacturing capabilities and enhance our value-added services to customers. This acquisition is a natural fit for us.”
Cirtec Medical is a vertically integrated and full-service outsource partner that offers end-to-end product design, development, and manufacturing of class III and II medical devices and components.
The firm’s product technologies include neuromodulation, implantable drug delivery, cardiac rhythm management, ventricular assist, structural heart, and minimally invasive systems.
In August 2016, Cirtec Medical acquired US-based Stellar Technologies that offers services, comprising of neuromodulation lead wire assemblies, mechanical assemblies, delivery systems, and electro-mechanical medical devices.