If you’re considering a manufacturing transfer, you may be losing sleep over all the things that could go wrong: cost overruns schedule slips quality issues, to name a few. Missteps anywhere in the process can make the difference between meeting or missing your timeline and budget.
Vention Medical said today that it boosted its footprint on the Emerald Isle with the opening of a new facility on the National University of Ireland’s Galway campus. Get the full story at our sister site, Medical Design & Outsourcing.
The FDA last month slapped Vention Medical with a warning letter over conditions at a plant in Costa Rica, flagging problems with the medical device company’s procedures there.
The July 1 letter was prompted by an FDA inspection in March of a plant in Barreal de Heredia, Costa Rica, the FDA said.
Vention Medical said it raised $2.5 million in an equity round.
The round comes on the heels of Salem, N.H.-based Vention’s acquisition of Fast Forward Medical last week.
Vention, which is owned by KRG Capital Partners, said the funding round came from 5 unnamed investors.
Medical device design & engineering firm Vention Medical acquired Fast Forward Medical and its catheter technologies for an undisclosed amount.
Salem, N.H.-based Vention, which is owned by KRG Capital Partners, said Plymouth, Minn.-based Fast Forward’s management team will stay in place after the merger.
Vention Medical is expanding its medical device assembly business with the acquisition of RiverTech Medical, a medical and electrical tubing maker.
Chattanooga, Tenn.-based RiverTech makes a very thin polyamide tubing most often used in catheters, electrical insulation and other medical devices, according to a press release.