Seisa Medical, a medical devices manufacturer and service provider, announced that it has acquired Burpee MedSystems, a New Jersey-based manufacturer of stents and delivery devices for a consideration of $52m.
In 1998, Janet and Steve Burpee have established Burpee MedSystems, leveraging their deep knowledge in design, mechanical engineering, chemical engineering, and metallurgy in building Burpee MedSystems.
Seisa Medical said that Burpee MedSystems has a highly technical team of engineers and technicians with a strong reputation for quality and innovation in the development and production of stents and delivery systems.
According to the company, the team at Burpee MedSystems possess experienced in laser machining, surface finishing, nitinol forming and shaping, welding. It is also claimed to have a deep experience in formulating and implementing regulatory strategies and study designs, from concept to FDA approval.
Seisa Medical founder and CEO Julio Chiu said: “This acquisition demonstrates Seisa’s commitment to investing in vertical capabilities to create end-to-end solutions that deliver value to our customers.
“The marriage between Seisa’s high-volume production of FDA Class II and Class III devices with Burpee MedSystems’ mastery in the manufacture of complex stents, delivery systems, and components will provide a scalable one-stop-shop for customers focused on the high-growth markets for implantable stents and their delivery systems.”
The company has decided to allow Janet and Steve Burpee to continue supporting the Burpee team after the transaction and retain majority ownership of Tinker Med, a medical device incubator and holding company previously wholly owned by Burpee MedSystems.
Burpee MedSystems CEO and co-founder Janet Burpee said: “We are thrilled to be joining Seisa as it gives Burpee MedSystems the global infrastructure we’ve been aiming for to expand our offerings and capabilities to the market.”
Seisa funded the transaction through its $52m senior secured credit facility with Sagard Credit Partners. The firm intends to continues to pursue acquisitions that add capability and geographic scope to the Texas-based company.
Chiu added: “We are excited to welcome the Burpee team to Seisa. Together we offer not only a compelling offering for strategic outsourcing solutions in the medical device market, but also provide all our employees more opportunities globally as well.”