Resonetics (Nashua, N.H.) today announced that it is making an additional equity investment in and providing debt financing to Medibrane.
The company took minority ownership of Israel-based Medibrane as part of its acquisition of STI Laser in November 2018.
“Having worked with the founders at Medibrane for the past six months, we’ve grown increasingly excited about the synergies between Medibrane innovative coverings technology and Resonetics’ growing nitinol processing capabilities,” president and CEO of Resonetics Tom Burns said in a press release. “In just a few years, the Medibrane team has developed a full suite of capabilities that our mutual customers require. This additional investment by Resonetics will allow the business to scale faster to serve our medical device customers, while also leveraging our expanded facilities and manufacturing infrastructure in Israel.”
Medibrane currently designs, develops and manufactures custom polymeric coverings and coatings that can be used with nitinol frames in structural heart, interventional cardiology, neuromuscular and other minimally-invasive procedures.
“We’re excited to broaden our relationship with Resonetics and to be able to do more for our international customer base,” CEO and co-founder of Medibrane Elad Einav said. “The collaboration has already been productive and as we move projects towards commercialization, the synergies will be even greater.”