Greatbatch, a developer of medical device technologies, has purchased assests of NeuroNexus Technologies for approximately $12m in cash.
NeuroNexus is involved in the design, development and commercialization of neural interface technology, components and systems for neuroscience and clinical markets.
NeuroNexus also has an intellectual property portfolio, core technologies and capabilities to support in the development and manufacturing of neural interface devices for neuromodulation, sensing, optical stimulation and targeted drug delivery applications.
Greatbatch president and CEO Thomas Hook said together, they believe that they can research, design, develop and manufacture new proprietary products and systems that will expand and potentially re-define the fields of cardiovascular and neuromodulation.
"Additionally, the strong alliance NeuroNexus has with the University of Michigan and the Michigan Economic Development Corporation should position us to expand our operations in the region," Hook said.
NeuroNexus president and CEO Daryl Kipke said their high fidelity and high precision lead technologies combined with QiG Group and Greatbatch capabilities will ensure the achievement of their goals of advancing cardiovascular and neuromodulation clinical therapies and providing research products to neuroscientists.