With a focus on applying its broad medical device expertise to solving unmet clinical needs, Minnetronix has been developing technologies for more than 15 years.

Minnetronix president & CEO Rich Nazarian said that the acquisition of Neurofluidics technology is a natural fit for the firm.

"When combined with our team’s experience in the development of complex electromechanical medical devices, the acquisition of Neurofluidics strengthens our services and technology portfolio."

"This announcement highlights the exciting acquisition of an innovative technology, and marks the continuation of our strategy to pursue life-impacting solutions that can serve our clients and patients," Nazarian added.

The financial terms of the acquisition were not disclosed.