Helix Medical Completes 50% Acquisition of Cambus Medical
Acquisition Enhances Capabilities in Catheters and Minimally Invasive Technology
Helix Medical, LLC, a global manufacturer for the medical device and healthcare industries, today announced the completion of a 50% acquisition of Cambus Medical, a Galway, Ireland-based medical technology company. This proposed transaction was initially announced in August 2012 to be completed in January 2013. As part of the completed transaction Helix Medical has exercised its option to acquire 50% of the ordinary share capital of the company.
Established in 2006, Cambus Medical designs, develops, and manufactures critical components for minimally invasive medical devices used in diagnostic and therapeutic interventions, primarily high-precision hypotubes and micro-component solutions for advanced catheter systems. Manufacturing capabilities include injection molding, EDM and ECM machining, laser precision cutting, laser welding and marking, assembly, and packaging.
Helix Medical, as a significant shareholder and partner, will assist Cambus Medical in driving its exceptional growth so they may continue to provide best-in-class solutions and service to their highly innovative customer base. “Cambus Medical plans to continue to increase its footprint within the medical technology sector through this partnership with Helix Medical,” said Barry Comerford, CEO of Cambus Medical. “Our new partnership with Helix Medical is one based on growth through continued investment, sharing of technical expertise, and global resources in capitalizing on the massive market potential available to our combined companies.”
Dr. Jorg Schneewind, President and CEO of Helix Medical, said “with its industry-leading technology and experienced management team, Cambus Medical is ideally positioned to serve the fast-growing market for high precision catheter components. Cambus adds another key technology component to our portfolio which, in addition to our acquisition of MedVenture Technology Corporation in October 2012, provides a perfect strategic fit. The key role Cambus Medical will play in this portfolio becomes even more obvious as we continue to deliver on our long-term strategy to build a comprehensive global organization that serves as a strategic partner to global medical device manufacturers.”
About Cambus Medical
Cambus Medical designs, develops, and manufactures critical components for minimally invasive medical devices used in diagnostic and therapeutic interventions. An ISO 13485 registered medical technology company founded in 2006; Cambus Medical has grown rapidly over the past 5 years through significant expansion of its capabilities and facilities. The company’s principal focus is the development and manufacture of hypotubes and catheter shafts used in angioplasty balloon catheters and stent delivery systems where the highest levels of performance are required. www.cambusmedical.com
About Helix Medical
Helix Medical, a division of the Freudenberg Group, is a global custom manufacturer for the medical device and healthcare industries with 10 manufacturing operations worldwide. Medical manufacturing capabilities include design and development, silicone and thermoplastic molding and extrusion, complex catheter systems, assembly, packaging, and engineering services. Helix Medical operates FDA-registered medical device facilities, certified ISO 13485 with Class 7 & 8 cleanrooms. Established in 1984, Helix Medical currently manufactures in California, Indiana, Massachusetts, Minnesota, Costa Rica, Germany, Ireland, and China. www.helixmedical.com