Cirtec Medical (Brooklyn Park, Minnesota) announced today that it has acquired QMD’s Precision Components business.
The financial terms of the deal were not disclosed. The move comes amid continued consolidation in the medical device industry’s contract manufacturing and supplier space.
QMD’s Precision Components business specializes in the development and manufacturing of silicone, polyisoprene and other custom elastomeric components, tubing, and subassemblies
“This acquisition is a natural fit for us and will open new doors for customers through advanced expertise in medical silicone molding and extrusion,” Cirtec CEO Brian Highley said in a new release. “From materials science and mold development through manufacturing and assembly, QMD Precision Components will enable Cirtec to provide customers with new and powerful capabilities as a full-service outsource partner.”
In addition, Highley said the acquisition will strengthen Cirtec’s platform for growth in existing markets. Think active implantables, interventional, and minimally invasive surgical devices.
Precision Components will integrate within the Cirtec brand. The business consists of Centers of Excellence in Sturtevant, Wisconsin and Rock Hill, South Carolina. Engineering and manufacturing capabilities will remain at the facilities, along with current leadership.
More about Cirtec Medical
Cirtec Medical boasts vertical integration. It’s a full-service outsourcer. It provides end-to-end product design, development, and manufacturing of Class III and II medical devices and components. The company works in cutting-edge spaces that include neuromodulation, implantable drug delivery, cardiac rhythm management, ventricular assist and interventional devices and delivery systems.
Cirtec has facilities in Brooklyn Park, Minnesota; Chandler, Arizona; El Coyol, Costa Rica; Enfield, Connecticut; Los Gatos, California; Lowell, Massachusetts; Birkenfeld, Germany; Sturtevant, Wisconsin; and Rock Hill, South Carolina.