The transaction will help Vention in continuing the expansion of its portfolio of advanced component technology offerings for the development and production of catheter-based devices, which are used in a range of interventional, surgical and minimally invasive procedures.

RiverTech’s experience in polyimide tubing will help Vention’s current capabilities including balloon catheters, catheter assemblies and a variety of other minimally invasive medical device applications.

Vention Medical CEO Dan Croteau said that the addition of RiverTech further strengthens the company’s ability to deliver innovative component technologies to its partners, allowing them to provide customers with more complex solutions faster.

"RiverTech’s talented team of experienced industry experts affirms our continued commitment to invest in leading edge technologies and solutions to better serve our customer’s needs," Croteau added.

RiverTech Medical president Bruce Nichols said that Vention’s commitment to investing in strategic technologies aligns well with the company’s shared focus on providing innovative solutions to its customers.

"Innovation, quality and fast delivery are what we have built our business on and Vention Medical’s focus on these three areas aligns perfectly with our expertise in polyimide," Nichols added.