Fresenius Medical Care has agreed to acquire medical technology firm Xenios from German private venture capitalist zfhn Zukunftsfonds Heilbronn.
Terms of the deal have not been disclosed.
Xenios, which employs over 260 people, provides solutions for the treatment of lung and cardiac failure.
zfhn acquired artificial lungs manufacturer Novalung in 2008, and advanced blood pump systems producer Medos Medizintechnik in 2010.
In 2013, zfhn merged two firms to create Xenios to provide new systems for minimally invasive lung and cardiac assistance.
The novalung iLA, i–cor, and medos devices offer pulmonary and cardiac assist for a range of support levels on Xenios platform.
Xenios’ novalung iLA therapy is an adjunct or an alternative to injurious and immobilizing mechanical ventilation, while OS i-cor therapy is a less invasive heart assist therapy synchronized with the human heartbeat.
Earlier this year, Xenios invested in Canadian specialist firm XOR Labs to expand its presence in the field of human lung transplantation.
Subject to approval by the cartel authorities, the deal is expected to complete by the end of this year.
In July this year, zfhn also divested specialized ventilation technology company AWS Group to a strategic investor.
Zfhn CEO Thomas Villinger said: “The takeover of XENIOS AG by Fresenius Medical Care AG will ensure a strong appeal for our region internationally and entice other innovative companies from the medical technology segment to look at our region.”
Xenios chairman and founder Dr Georg Matheis said: “Under the umbrella of Fresenius Medical Care AG, we will be able to continue our international growth course, particularly in North America and China, and open up new markets with innovative products.”
Image: Fresenius Medical Care to acquire medical technology firm Xenios. Photo: courtesy of PinkBlue / FreeDigitalPhotos.net.