LOS ANGELES, Jan. 6, 2011 /PRNewswire/ — Century Park Capital
Partners is pleased to announce that it led the recapitalization of
Cirtec Medical Systems, LLC (“Cirtec”) along with Charter Oak
Equity and the company’s founders. Cirtec is a leading provider of
client focused, comprehensive medical product design, engineering
and manufacturing solutions. Cirtec provides its customers
with highly technical solutions, utilizing its expertise in
minimally invasive systems, active and passive implants, and
medical electronics. Cirtec was formed in 2009 from the merger of
Circle Medical Devices and Texcel Medical. The company
operates out of locations in Los Gatos, California and East
Longmeadow, Massachusetts.
“We chose to partner with Century Park because of their
philosophy of collaborating with management and their track record
of successfully helping businesses grow,” stated Barry Smith, CEO
of Cirtec. “Century Park’s leadership and access to resources will
allow us to maintain our industry leading position in the
outsourced medical device design and manufacturing industry as we
take our business to the next level.”
Larry Derose, one of the founders of the company said, “This
partnership with Century Park is the next step in our company’s
evolution. By coupling our success in the market with Century
Park’s proven experience helping businesses of our size grow, we
have become exceptionally well positioned to capture the tremendous
opportunities that exist in our marketplace.”
Century Park Capital Partners has experienced success in the
medical device arena through prior investments in the medical
contract manufacturing sector.
Chip Roellig, a Managing Partner of Century Park, stated, “We
are very enthusiastic about our new partnership with Cirtec.
Cirtec’s reputation as the market leader and its customer
relationships with major medical device OEMs in the
neurostimulation and cardiovascular markets set the compa
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