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SurModics buys catheter technologies developer NorMedix

Medical device and in vitro diagnostic technologies provider SurModics has acquired medical device design and development firm NorMedix, for around $14m.

Based in Plymouth of Minnesota, NorMedix is involved in developing ultra thin-walled and minimally invasive catheter technologies.

NorMedix has also developed advanced braiding technologies, which enable the design, development and manufacture of catheters to be used in complex interventional procedures.

The acquisition is expected to enhance SurModics’ vascular device expertise and research and development (R&D) capabilities.

SurModics president and CEO Gary Maharaj said: "With NorMedix we will have a differentiated catheter-technology platform and additional design and development expertise that will enhance the value we offer our medical device customers.

"We remain focused on being a strategic partner to industry-leading medical device companies by offering early access to innovative whole-product solutions."

In November 2015, SurModics acquired Ireland-based Creagh Medical for around €30m.

Founded in 2006, Creagh Medical is involved in developing and marketing percutaneous transluminal angioplasty (PTA) balloon catheters.

SurModics’ coating and drug delivery technologies, along with NorMedix’s catheter-based technologies and Creagh Medical’s PTA platform, will be used to develop differentiated delivery and therapeutic intravascular solutions.