Minnetronix Medical announced today that healthcare investment firm Altaris Capital Partners has acquired the majority share of the company.
Altaris, which actively manages $4.9 billion of equity capital, had been a minority investor in Minnetronix since 2015. The St. Paul, Minn.-based contract manufacturer declined to reveal the amount of the new investment.
“Throughout our relationship with Altaris, we have achieved many milestones as a company,” said Minnetronix CEO Jeremy Maniak in a news release. “Now, with our expanded partnership, we are excited to accelerate our strategy and move into the next stage of growth at Minnetronix.”
Minnetronix focuses on product development and manufacturing across the product life cycle with expertise in RF energy, fluid and gas management, optical systems, and stimulation and wearable devices. The company also recently launched its whole-product solutions, offering ready-made products for customers to add to their portfolios. The FDA cleared the company’s MindsEye neurosurgical access port for deep brain surgeries in September 2020.
“We are excited to expand our partnership with Minnetronix and build on the company’s rich heritage of accelerating medical device innovation for its customers,” said Jim O’Brien, managing director at Altaris. “We look forward to working with the Minnetronix team to support the company’s next phase of growth.”