08.03.11
TechDevice has purchased Medical Profiles and Engineering (MP&E), which specializes in highly engineered catheter assemblies for medical device manufacturers.
The move is a strategic fit with TechDevice’s catheter expertise and provides a 30,000-square-foot facility in Eden Prairie, Minn. TechDevice, which recently was acquired by Philadelphia, Pa-based private equity firm Inverness Graham, designs and manufactures complex guidewires, balloons, precision components and finished devices for a broad range of endosurgical and interventional applications.
Bill Ryan, founder and former owner of MP&E, is staying on after the purchase.Terms of the deal were not disclosed.
“With the additional financial resources of Inverness Graham and a broader set of component and finished device capabilities from TechDevice we will be able to offer our customers and employees new opportunities to grow with MP&E,” Ryan said.
Ross Magladry, CEO of TechDevice, called MP&E a “perfect complement” to his firm’s guidewire and balloon product offerings. “I am excited about the additional value we will be able to deliver to our customers by leveraging this expanded capability set and look forward to working with the team at MP&E,” Magladry said.
TechDevice is located in Watertown, Mass.
The move is a strategic fit with TechDevice’s catheter expertise and provides a 30,000-square-foot facility in Eden Prairie, Minn. TechDevice, which recently was acquired by Philadelphia, Pa-based private equity firm Inverness Graham, designs and manufactures complex guidewires, balloons, precision components and finished devices for a broad range of endosurgical and interventional applications.
Bill Ryan, founder and former owner of MP&E, is staying on after the purchase.Terms of the deal were not disclosed.
“With the additional financial resources of Inverness Graham and a broader set of component and finished device capabilities from TechDevice we will be able to offer our customers and employees new opportunities to grow with MP&E,” Ryan said.
Ross Magladry, CEO of TechDevice, called MP&E a “perfect complement” to his firm’s guidewire and balloon product offerings. “I am excited about the additional value we will be able to deliver to our customers by leveraging this expanded capability set and look forward to working with the team at MP&E,” Magladry said.
TechDevice is located in Watertown, Mass.