Vention Medical, Inc. (Vention), a leading, full-service medical device outsourcing company, has acquired Ansamed Ltd, Ireland's premier provider of advanced medical tubing solutions, for an undisclosed consideration.
Vention is an innovative medical device solutions partner offering clients more than 30 years of experience in all phases of design, engineering, component manufacturing and finished device assembly. Vention specializes in components and services used in interventional and minimally invasive products, including medical balloons and heat shrink tubing, clean room injection molding, and assembly and packaging services.
The acquisition of Ansamed will expand Vention's capabilities in the development and manufacturing of specialty catheter-based devices used in a range of interventional and surgical procedures. Ansamed's technology and breadth of experience in extrusion and braided tubing will add to Vention’s strong portfolio. In addition, Ansamed will establish a strategic presence for Vention in Ireland and serve as a base for further European and international expansion.
Dan Croteau, CEO of Vention, said, "Partnering with the Ansamed team is an extraordinary opportunity for us to further strengthen Vention’s ability to deliver innovative components and cost-effective supply chain solutions to our medical device customers. The acquisition of Ansamed affirms our commitment to invest in leading minimally invasive technologies. They will be a great addition to our team."
Ansamed focuses on advanced medical tubing solutions including multi-layer, co-extrusion and multi-lumen extrusion capabilities, and catheter design, development and manufacturing services.
One of Oaklins' teams in the USA and Ireland advised Vention in this transaction. The USA team solicited the assistance of the Irish team to identify acquisition candidates for Vention in Ireland. They introduced Vention to Ansamed providing early access to the company and its management team. Both teams assisted Vention in valuing Ansamed, as well as structuring and negotiating the transaction in a highly competitive process.
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