The acquisition will allow SunTech to leverage both firms’ knowledge of blood pressure to provide better BP solutions to customers
SunTech Medical has completed the acquisition of Meditech. (Credit: SunTech Medical, Inc.)
Halma subsidiary SunTech Medical has completed the acquisition of medical devices and software solutions Hungary-based Meditech for an undisclosed sum.
Based in Budapest, Meditech is engaged in the development and manufacturing of 24-hour BP and ECG Holter monitor devices.
The company offers ambulatory blood pressure (BP) monitors (ABPM), including ABPM-06, ABPM-05 and ABPM-04. It also offers ECG Holter devices such as CardiUP! and CardioMera.
The acquisition will allow SunTech to leverage both firms’ knowledge of blood pressure to provide better BP solutions to customers.
Meditech managing director Dr István Szőllősi said: “We have known SunTech as a team of brilliant professionals ever since we joined the club of ABPM manufacturers in 1990. Our mutually advantageous relationship goes back over twenty years, and it is now brought to the closest level of integration.”
Last year, Meditech unveiled its new ABPM-06, which features the new SleepWell function and built-in voice recording.
At the starting of this year, Meditech secured 510(K) clearance from the US Food and Drug Administration (FDA) for its ABPM-06 device. It started sales of the device across the world.
SunTech already is present in the ABPM market with the Oscar 2 ABPM. Both firms will use combined expertise in ABPM to launch new solutions in the ABPM market, in addition to the diagnosis and management of hypertension across the world.
SunTech president Rob Sweitzer said: “Meditech has multiple complementary channel partners plus a deep knowledge of the EMEA market and EU MDR requirements, which can help SunTech. SunTech, backed by Halma, can accelerate Meditech’s growth with expansion of global market access and investment in R&D.
“Beyond our shared product DNA with the original Oscar, I believe we share a commitment to providing clinicians and patients with high performance, clinical-grade blood pressure devices. This is going to be a great partnership!”
SunTech Medical, which is based in the US, offers blood pressure monitoring products and technologies to its customers.