Heraeus Medical Components said today it will acquire Via Biomedical, an outsourcing partner for medical device OEM companies. Terms of the deal were not disclosed.

Maple Grove, Minn.-based Via Biomedical does contract development, prototyping, processing and manufacturing of interventional devices.

Heraeus said the acquisition will help it to expand within the growing interventional device markets. The acquisition is the Minneapolis-based medtech company’s third technology acquisition in the last 24 months. Heraeus Medical Components acquired Evergreen Medical and PhysioTest last year and bought conductive polymer materials maker Biotectix in 2017.

Founded in 2001, Via Biomedical has core development competencies in catheters, balloons, stent delivery systems, molded medical device products and assemblies regularly used in interventional cardiology, neurovascular, and peripheral vascular markets.

“The acquisition of Via Biomedical is part of our continued investment to support our medical device customers in the vascular field,” said Heraeus Medical Components president Nicolas Guggenheim in a news release.

“Via Biomedical has an impressive track record with their engineering agility,” added David Ohmann, EVP of interventional solutions at Heraeus. “When you combine their strengths with our global reach and excellence in high-volume manufacturing, OEM medical device customers will be able to shorten development cycles and get innovative products to market faster.”