Seisa Medical announced that it acquired ProtoQuick and Peridot to add to its plastics and metals capabilities.
El Paso, Texas-based Seisa’s acquisition of the two Bay Area companies offers added expertise in plastics and metals as well as the opportunity to leverage Seisa’s global infrastructure for high-volume production of FDA Class II and Class III devices, according to a news release.
Peridot is a supplier of complex metals-based components and mechanical assemblies for R&D prototyping and full-scale production across a variety of industries, mainly medical.
“The synergy created by Peridot’s advanced machining capability coupled with Seisa’s laser tube cutting and high-volume offerings make for a powerful device manufacturing partner for today’s medical device market,” Peridot president & co-founder Patrick Pickerell said in the release.
ProtoQuick merged with IDEO in 2012 to build a company focused on prototype parts with offerings including machining, mold making and plastic injection molding services.
“(This) gives us the opportunity to give our customers a path from design to prototyping to volume manufacturing,” co-founders Carl Anderson and Ken Staal said.
As part of the acquisition, Peridot founders Pickerell and Debra van Sickle, as well as ProtoQuick founders Anderson and Staal, will remain in their current roles.
Seisa Medical’s acquisitions of the two companies follow a 2019 buy of Burpee MedSystems, which added implantable stents and delivery devices, as well as expertise in laser machining, surface finishing, nitinol forming and shaping and welding. The buys were funded by Seisa through its $50million credit facility with KeyBank, Wells Fargo and Bank of the West.
“With these acquisitions, Seisa establishes a strong presence in the Bay Area, a hub of innovation in the medical device sector,” Seisa Medical founder & CEO Julio Chiu said. “This acquisition demonstrates Seisa’s commitment to investing in vertical capabilities to create end-to-end solutions that deliver value to our customers.”