Inverness Graham acquires Catheter & Medical Design
Private investment firm Inverness Graham Investments has acquired Catheter & Medical Design (CMD).
Based in Roseville, MN, CMD develops and manufactures complex catheters and catheter shafts for a broad range of interventional and endosurgical applications. This is the third Inverness platform investment in the medical device outsourcing market, following Inverness' successful ownership of ExtruMed and AdvancedCath Technologies.
"We are excited to invest in another medical device outsourced manufacturing business and believe CMD is a highly attractive platform, offering a compelling value proposition to its global, blue-chip customer base," says Aliya Khaydarova, Managing Principal of Inverness Graham. "As medical device companies continue to outsource their complex design and manufacturing needs, we expect CMD to become an increasingly important strategic partner. We look forward to leveraging our industry expertise and robust network to build upon CMD's impressive performance and will look to drive growth both organically and through strategic acquisitions, while also looking to enhance their in-house capabilities and expand geographic reach."
Lucian Bejinariu, President & CEO of CMD, says: "I am very excited about partnering with Inverness Graham to continue the tremendous growth CMD has experienced and to leverage the additional financial and operating resources Inverness has to offer. We look forward to the continued expansion of our platform and the ability to offer more complex solutions and capabilities to our customers."
Paul Hastings LLP advised Inverness Graham. Terms of the acquisition have not been disclosed.