Freudenberg Medical has purchased a 75% stake in Germany-based Hemoteq from Earlybird Venture Capital and Pinova Capital, which provides surface coating technologies and related services for medical devices.
Terms of the deal have not been disclosed.
Based in Würselen of Germany, Hemoteq is involved in developing novel coating solutions for combination products such as drug eluting stents.
The company also provides coatings for catheters and cochlear implants, in addition to the drug-coated balloon catheters.
Freudenberg Medical president and CEO Jorg Schneewind said: "Hemoteq’s coating technology adds a key technology component to our portfolio and represents an important milestone in our long-term strategy to provide a full suite of innovative technology services to our global medical device OEM customers."
Hemoteq has around 100 technology patents in innovative surface technologies, according to Freudenberg.
The firm develops and manufactures minimally invasive systems, as well as components made of silicone, thermoplastics and specialty metals. Its surfaces can be modified with active-ingredient coatings for optimal efficiency of the medical device.
Hemoteq CEO Michael Hoffmann said: "With the combination of our material and processing expertise and Hemoteq’s leading coating technologies we can provide our customers a unique portfolio of product solutions."
Freudenberg Medical develops and markets specialty components and minimally invasive device solutions for the medical device and pharmaceutical industry.
Image: Surface coating technology for medical devices. Photo: courtesy of Business Wire.