Ordito GmbH, a private investment company, has sold Vascotube GmbH, a leading German manufacturer of high quality nitinol tubing, to 3i-backed Cirtec Medical Systems, LLC (Cirtec), a provider of design and contract manufacturing services for implantable and minimally invasive surgical devices. Financial details will remain confidential.
Founded in 2004, Vascotube processes nitinol tubing used in minimally invasive implantable medical devices. Nitinol’s properties of superelasticity and unique shape memory capabilities make it an ideal material for use in scaffold-like medical devices, such as peripheral and vascular stents, replacement heart valves, and embolic protection filters, that are compressed, inserted into the body intravenously and then expanded to pre-set shapes. Vascotube’s proprietary manufacturing process and focus on quality has made it a leading provider in its target markets and with its customers.
For over 25 years, Cirtec has been providing design, development, manufacturing and product transfer services for the medical device industry. With facilities in Los Gatos, California, Enfield, Connecticut, and Brooklyn Park, Minneapolis, the company specializes in outsourced solutions for active implantable devices in the areas of neuromodulation, drug delivery, cardiac rhythm management, ventricular assist, and minimally invasive devices.
Oaklins’ teams in Germany and the USA acted as the exclusive M&A advisor to the seller in this cross-border transaction. The team had previously closed deals in the industry and was able to use its broad experience and contacts gained during the prior projects. Oaklins' team in Switzerland supported the transaction in its early stages.
Uwe Seiler, Managing Director, Vascotube GmbH, said: “We are happy to have found a strong partner in Cirtec that can help us grow our sales footprint and better support our customers. The Cirtec and Vascotube offerings are highly complementary and focus on quality, high-end technical products and solutions that are customized to serve the critical needs of our customers. We are excited about the next chapter of growth that can be achieved by partnering with Cirtec.”
Dr. Hans Bethge
Dr. Roberto Tracia
Michael S. Goldman
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