Freudenberg Medical has acquired a 75% stake in Germany-based Hemoteq from Earlybird Venture Capital and Pinova Capital, for an undisclosed amount.
Headquartered in Wurselen, Germany, Hemoteq provides surface coating technologies and related services for combination products such as drug eluting stents, coatings for catheters and cochlear implants, as well as drug-coated balloon catheters.
Under terms of the transaction, Hemoteq founders Michael Hoffmann and Roland Horres will hold the remaining shares, and will collaborate with chief financial officer Thomas Lowen, to manage the company.
Freudenberg Medical president Jorg Schneewind said: "Hemoteq’s coating technology adds a key technology component to our portfolio and represents an important milestone in our long-term strategy to provide a full suite of innovative technology services to our global medical device OEM customers."
According to Freudenberg, Hemoteq has 100 technology patents in innovative surface technologies. The firm provides comprehensive services, including the development of medical devices, regulatory approval and serial production.
Hemoteq CEO Michael Hoffmann said: "With the combination of our material and processing expertise and Hemoteq’s leading coating technologies, we can provide our customers a unique portfolio of product solutions.
"The long-term orientation and financial stability of Freudenberg assures our customers that we can reliably support them over long development processes and throughout their product life cycles."
Freudenberg develops and manufactures minimally invasive systems, as well as components made of silicone, thermoplastics and speciality metals. Its surfaces can be modified with active-ingredient coatings for optimal efficiency of the medical device.
Image: Hemoteq provides surface coating technologies for medical devices. Photo: courtesy of Business Wire.