Confluent Medical Technologies announced today that TPG Capital agreed to make a majority investment in the company.

TPG Capital joins Amerpand Capital Partners, an existing investor that will retain a substantial minority interest in Confluent, according to a news release.

Scottsdale, Arizona-based Confluent partners OEMs to support the design, development and manufacturing of life-saving implants, minimally invasive delivery systems and other medical devices.

“Confluent’s depth of expertise in Nitinol processing and other complex modalities, differentiated manufacturing capabilities and unique end-to-end integration have positioned the company as a trusted design and manufacturing partner to OEMs for many of the most complex implantable products,” TPG Capital Partner Kendall Garrison said in the release.

J.P. Morgan Securities LLC acted as the exclusive financial advisor and Goodwin Procter LLP served as the legal counsel to Confluent in this transaction.

“Confluent has grown substantially over the course of its ten-year partnership with Ampersand, and with the additional support and expertise of another leading healthcare investor like TPG, we are confident that we will continue to build upon our existing platforms and drive new opportunities for growth,” Confluent President & CEO Dean Schauer said. “Medical device OEMs are increasingly looking for trusted partners to support the design and manufacturing of essential products and components, and we look forward to continuing to build upon our highly specialized materials science, engineering and manufacturing capabilities to further support our customers.”