Confluent supports medical device OEMs in the designing, development and manufacturing of implants, minimally invasive delivery systems and other devices
Confluent Medical is a materials science, development and manufacturing partner to medical device manufacturers. (Credit: Pixabay)
TPG’s private equity platform TPG Capital has agreed to make a majority investment in Confluent Medical Technologies.
Confluent is a materials science, development and manufacturing partner to medical device manufacturers (OEMs).
It supports the design, development and manufacturing of life-saving implants, minimally invasive delivery systems and other medical devices.
With the investment, TPG Capital is said to join existing investor Ampersand Capital Partners that will hold a minority stake in Confluent.
The investment is expected to boost Confluent’s next stage of growth and expansion.
Confluent president and CEO Dean Schauer said: “Confluent has grown substantially over the course of its ten-year partnership with Ampersand, and with the additional support and expertise of another leading healthcare investor like TPG, we are confident that we will continue to build upon our existing platforms and drive new opportunities for growth.
“Medical device OEMs are increasingly looking for trusted partners to support the design and manufacturing of essential products and components, and we look forward to continuing to build upon our highly specialized materials science, engineering and manufacturing capabilities to further support our customers.”
Confluent offers developing and manufacturing components, delivery systems and finished devices for medical device OEMs in various healthcare subsectors such as neurovascular, structural heart, electrophysiology, aortic intervention, peripheral vascular and ENT.
It works with OEMs to create products for complex applications, including transcatheter heart valves, neurovascular implants, endovascular stent grafts and advanced smart catheters.
Confluent is also a strategic partner to diversified customers, including medical device OEMs, small and mid-sized companies.
The company has facilities in Fremont and Laguna Niguel of California, Warwick of Rhode Island, Windham of Maine, Austin of Texas, Chattanooga of Tennessee, and San Jose of Costa Rica.
J.P. Morgan Securities served as exclusive financial advisor, while Goodwin Procter acted as legal counsel to Confluent in this deal.
In October 2017, TPG Capital agreed to acquire US-based orthopaedic implant devices maker Exactech for around $625m.