Resonetics buys medical device manufacturer Caribou Technologies

6 February 2019 (Last Updated February 6th, 2019 11:49)

Resonetics, a US-based laser micro manufacturing provider for the life sciences industry, has acquired contract medical device manufacturer Caribou Technologies for an undisclosed amount.

Resonetics, a US-based laser micro manufacturing provider for the life sciences industry, has acquired contract medical device manufacturer Caribou Technologies for an undisclosed amount.

Established in 2005 by Dan and Wendy Honeck, Caribou offers centerless grinding, forming, coiling, machining and laser processing services for the medical device industry.

The company mainly caters to the medical device manufacturers in the Minneapolis market, with an additional customer base in multiple market segments globally.

“The deal is expected to expand the company’s capabilities across the neurovascular, structural heart and other interventional speciality markets, among others.”

Caribou operates a 50,000ft² manufacturing facility that provides a variety of services such as product development and manufacturing value streams.

Its portfolio of products consists of coils and speciality wires, including corewires, device tip wires, catheter wires, snare or retrieval wire and stylets.

The company’s corewires are used for applications in neurovascular, endovascular, interventional cardiology, peripheral vascular, cardiac surgery and rhythm management.

Resonetics president and CEO Tom Burns said: “Connie, Dan and Wendy have established a great reputation in the industry by building a talented team and providing innovative manufacturing processes.

“They’ve also invested in an impressive 50,000ft² facility that highlights their commitment to their employees and customers and provides a great venue to serve our expanding business needs.”

The acquisition forms part of Resonetics’ strategy to add new manufacturing capabilities in order to generate metal components and sub-assemblies for leading-edge devices.

In addition, the deal is expected to expand the company’s capabilities across the neurovascular, structural heart and other interventional speciality markets, among others.

Resonetics is backed by private equity firm GTCR, which made its first investment in the company in February last year.

In a bid to bolster the precision micro-manufacturing capabilities for complex componentry of interventional medical devices, Resonetics previously invested in Medelec and STI Laser.