Heraeus Medical Components has agreed to acquire Evergreen Medical Technologies and its subsidiary PhysioTest to expand neuromodulation capabilities.
The acquisition will allow Heraeus Medical Components to offer a range of neuromodulation solutions to its medical device customers.
Evergreen Medical Technologies, which was established in 2006, is a contract design, development and manufacturing partner to medical device and start-up companies with particular expertise in neuromodulation.
The company offers a combination of design and development capabilities, engineering precision and clinical insight to support medical device firms in the development of a range of neuromodulation products and solutions, including implantable leads and stimulation devices.
Heraeus Medical Components president Nicolas Guggenheim said Evergreen’s expertise in neuromodulation was a driving factor in the transaction.
Guggenheim said: “With over 600 diseases of the nervous system, neuromodulation will be an increasingly important treatment option to improve patients’ quality of life.
“We continue to expand our capabilities in neuromodulation to support our medical device customers, and with this acquisition we will enable our customers to accelerate innovation in this therapy area.”
Heraeus offers fully vertical integrated solutions from the base material to medical components, including assemblies and accessories to complete platform development and manufacturing for medical device customers.
The deal brings together Evergreen’s neuromodulation engineering expertise with Heraeus’s global manufacturing and distribution experience.
Heraeus said the addition marks its continued commitment to help medical device companies speed up innovation and address unmet clinical needs.
Guggenheim said: “The combined strengths of our two organizations will help medical device companies to further streamline their supply chains, bring cost-effective solutions to market faster and, most importantly, be clinically effective.”
In August this year, Heraeus Medical inaugurated a production building in Wehrheim, Germany to produce bone cement and products that can improve quality of life for people with degenerative joint diseases.
The new production building will offer required capacities in an area of 2,800 m2. Once the machines are qualified and production begins, the facility will be able to roll off the production lines by early next year.