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Acquisition expands company platform.
August 4, 2011
By: Laura Sassano
TechDevice Corporation, a portfolio company of Inverness Graham Investments, has acquired Eden Prairie, Minn.-based Medical Profiles and Engineering Inc. (MP&E). “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,” said Bill Ryan, founder and former owner of MP&E. TechDevice manufactures guide wires, balloons, precision components and finished devices for a broad range of endosurgical and interventional applications, while MP&E specializes in catheter assemblies for manufacturers. “MP&E is a perfect complement to TechDevice’s guidewire and balloon product offering and will allow us to deliver a more comprehensive set of capabilities to our medical device customers,” said Ross Magladry, CEO of TechDevice. “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.” Inverness Graham acquired TechDevice in January, and is based in Philadelphia, Pa. TechDevice is based in Watertown, Mass.
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