Ximedica said the acquisition will expand its west coast presence, complementing last year’s acquisition of San Francisco-based Bridge Design.
“The acquisition of Accel Biotech deepens the capability, reach and scale of Ximedica’s comprehensive development offering into key IVD and Life Science growth segments within the industry that as a firm focused solely on medical technology we knew we had to pursue. Ximedica brings the regulated systems, procedures, discipline and expertise to complement and enhance Accel Biotech’s wide range of complex technologies including optics, various detection methods, motion control/robotics, fluid management and consumables/cartridges. These combined strengths will bring high value to our clients, offering a risk averse and cost effective development approach and a depth of expertise 2nd to none,” Ximedica CEO Randall Barko said in a press release.
Accel Biotech will continue to operate out of its Silicon Valley facility, Ximedica said, and in addition will be able to expand its operations to the East Coast utilizing Ximedica’s existing clients.
“Our ethos has always been about consistently beating time-to-market expectations and innovation. Ximedica’s vertically integrated processes and similar customer satisfaction values are a natural match. This is about 2 organizations combining complementary resources and establishing a coast-to-coast offering for the design and development of life science and in vitro diagnostics product technologies. By joining forces with Ximedica, we will be able to respond to an increasing demand from our client base for a more comprehensive offering. About 2 years ago we became a SV life sciences portfolio company and embarked on the next phase of our global growth strategy. The acquisition of Bridge Design last year and now Accel Biotech moves us even further along that path.” Accel Biotech founder Bruce Richardson said in prepared remarks.