MedVenture sold to California company

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October 18, 2012

MedVenture sold to California company

CEO expects few changes at Jeffersonville headquarters

By BRADEN LAMMERS braden.lammers@newsandtribune.com The News and Tribune Thu Oct 18, 2012, 05:50 PM EDT

JEFFERSONVILLE — MedVenture Technology Corp. announced Wednesday that is has been acquired by Helix Medical LLC.

MedVenture, a medical device design, development and manufacturing company which employs more than 260 people in Jeffersonville and has offices in Minnetonka, Minn., was bought by Helix Medical LLC, a California-based manufacturer for the medical device and health care industries.

This acquisition will enhance Helix Medical’s ability to offer its customers a full spectrum of design and manufacturing services for innovative medical devices, according to a press release.

Kevin Bramer, president and CEO of MedVenture, said Helix Medical focuses on thermoplastic and silicone molding, while MedVenture’s key operations are focused on concept development and final assembly. He added that the deal will open up European and Asian markets to MedVenture.

“It makes this deal very attractive,” Bramer said.

For Helix Medical, the purchase of MedVenture from Ampersand Capital Partners — a private equity firm based in Boston — will give the company its first locations in the Midwest with the manufacturing facility in Jeffersonville and a satellite office in Minnesota.

“MedVenture will deepen our resources in product design, development and engineering and enable Helix to offer more comprehensive product life-cycle management and be a stronger strategic partner to our customers,” said Dr. Jorg Schneewind, president and CEO of Helix Medical in the release. “While our global reach, with now 10 facilities around the world, will allow MedVenture to expand their services into new regions and tap into Helix’s core strengths ... overall, the combined companies deliver a perfect synergy of complimentary capabilities powered by highly innovative people, advanced technology and leading-edge processes.”

With the merger there are few changes planned for the companies. Bramer said the management team and staff for MedVenture is going to stay the same and there are no plans to relocate the company. Plans are for MedVenture to remain as a manufacturing center in Jeffersonville.

“It will only get better,” he said.