NextPhase Medical Devices has acquired US-based company Proven Process Medical Devices to bolster its capabilities in research and development (R&D), engineering, design and production of various devices.
These devices include US Food and Drug Administration Class II and III therapeutics and diagnostics.
Founded in 1994, Proven Process offers medical device design, development and manufacturing services. The company features implantable, interventional, diagnostic and minimally invasive surgical device expertise.
Furthermore, its capabilities include handheld devices, combination devices, wearable devices and electro-mechanical capital equipment.
NextPhase Medical Devices CEO Carlo Colesanti said: “The acquisition of Proven Process reinforces NextPhase’s growth strategy, extends our technology platform and strengthens our capabilities to help our customers navigate medical device challenges.
“Proven Process is known for its state-of-the-art engineering and its ability to act with speed to support customers in commercialising their technologies and products.”
With the acquisition, NextPhase will merge Proven Process’ engineering and design capabilities with its customer solution portfolio.
This will drive product offerings into high-growth areas and enhance supply chains. It will also aid in delivering quality products at affordable costs.
Furthermore, the deal will add Proven Process’ New England emergency medical services (EMS) Center of Excellence to NextPhase’s manufacturing sites in New Jersey and New Hampshire, US, as well as Mexico.
Proven Process Medical Devices president Kenneth Fine said: “Joining NextPhase will give our customers access to a world-class, lean-focused organisation with manufacturing capacity and scale.
“This will also help us to quickly expand our capabilities to better serve our customers.”
A design, development and production partner, NextPhase facilitates original equipment manufacturers (OEMs) in launching low- to medium-volume complex medical devices in the market.
It provides support in meeting customer needs through its capabilities in electromechanical and single-use devices, as well as lean manufacturing.
The companies have not divulged the financial terms of the deal.