Medical device incubator Watershed said it paid an unspecified amount to acquire 3D printer Additive Innovations.
The new company, operating under the Watershed umbrella, named Additive Innovations founder Nick Cordaro as CEO. Watershed, founded last September by VC shop Fountainhead Investment Partners, will be run out of Encinitas, Calif., and San Antonio, the company said.
Cordaro was director of engineering at Integra LifeSciences (NSDQ:IART) until founding Additive Innovations in 2014.
“I created Additive Innovations from the ground up to champion new ideas through to commercialization with a dedicated team of specialists for our clients,” he said in prepared remarks. “Our integration into Watershed is particularly exciting as I clearly see the value that it will foster for my existing clients and future endeavors with the opportunity to collaborate with the advisors and global resources Watershed has in place.”
“Fountainhead has been observing Additive Innovations for more than a year, and we have been impressed by what Nick has accomplished with the company,” added Fountainhead managing partner Brian Kieser. “This acquisition strengthens Watershed’s commercialization arm, while also bringing on Nick’s leadership and his impeccable reputation within the industry. Ultimately, the benefits of combining Additive Innovations with Watershed will advance the ideas we are incubating, and increase the value of our intellectual property.”
