Under the acquisition, Corpak has gained rights to Micronix’s intellectual property and other related tip-location systems.

Corpak CEO Jeffrey Blair said the acquisition further strengthens the company’s portfolio of patents and other proprietary assets.

"It opens a number of additional avenues for growth beyond our core business, such as venous, arterial, respiratory, and other applications," Blair added.

Linden Capital Partners vice president Todd Van Horn said, "We believe the applications and markets for tip location technologies beyond the enteral space are significant."

Corpak’s Cortrak enteral access system benefits patients through more accurate placement of feeding tubes, reduce complications from the placement procedure and eliminates unnecessary exposure to X-rays.