"We are pleased to add FMI's capabilities to the Biomerics portfolio," stated Travis Sessions, CEO. "We welcome the FMI team to the group, and look forward to their contribution. This acquisition expands our capabilities and important customer relationships. We look forward to investing in and expanding the business for our customers, employees, and community. Combining FMI with Biomerics' existing medical device business establishes Biomerics as a leader in the attractive minimally invasive interventional segment of the medical device market".
FMI, founded in 1993 by James Passmore, started by developing PTA catheters. Over the years, the company expanded its PTA balloon technologies and developed other peripheral cardiovascular, kidney stone management, and urinary catheters. Today, the FDA registered location includes over 50,000 sq. ft. of manufacturing space and employs more than 400 employees.
Biomerics, with over 1000 employees, operates seven facilities located in Utah, Minnesota, Indiana, Costa Rica, and Texas. Founded in 2009, Biomerics has grown into a market leader in the minimally invasive interventional catheter market. Biomerics provides engineered components to the medical device market including biomaterials, extrusions, molded parts, laser processed parts, machined parts, balloons, and reinforced shafts. Additionally, it supplies packaged sterile medical devices including advanced interventional catheters, surgical tools, and vascular access products.