50% Acquisition Enhances Catheter and Minimally Invasive Technology
Carpinteria, California – August 13, 2012 – Helix Medical, LLC, a global manufacturer for the medical device and healthcare industries, announces a strategic investment in Cambus Medical, a manufacturer of high precision hypotubes and micro-component solutions for advanced catheter systems.
Under the agreement, Helix Medical will provide expansion financing in 2012 and will acquire a 50% share in Cambus Medical as of January 2013.
Cambus Medical is a leading designer, developer, and manufacturer of high quality precision components for the medical device industry. The company manufactures hypotubes (hypodermic tubes) which are a critical component of catheter systems for diagnostic and therapeutic interventions. Cambus Medical operates a state-of-the-art manufacturing site in Spiddal, near Galway, Ireland. Its manufacturing capabilities include injection molding, EDM and ECM machining, laser precision cutting, laser welding and marking, assembly and packaging.
Helix Medical also holds a 50% share in the Irish company VistaMed, a leading designer and manufacturer of specialty catheter systems and extruded medical tubing. VistaMed’s Chairman, John O’Shaughnessy, also presides as Chairman of Cambus Medical. The partnership with Cambus Medical expands Helix Medical’s offering to include a full range of components and design and manufacturing services for minimally invasive surgery devices.
“Cambus adds another key technology component to our portfolio and represents an important milestone in our long-term strategy to build a comprehensive global organization that serves as a strategic partner to medical device manufacturers,” said Dr. Jorg Schneewind, President and CEO of Helix Medical.
“With its industry-leading technology and experienced management team, Cambus Medical is ideally positioned to serve the fast-growing market for high precision catheter components and complements the catheter business of our partner VistaMed,” said Dr. Max Kley, President of Helix Medical Europe.
“Helix Medical’s global presence combined with our complementary engineering and manufacturing capabilities,” adds Barry Comerford, Managing Director of Cambus Medical Ltd, “offers an ideal platform for the expansion of Cambus Medical’s service
and product portfolio to customers worldwide.”
About Helix Medical
Helix Medical is a global custom manufacturer for the medical device and healthcare industries with seven manufacturing operations worldwide. Medical manufacturing capabilities include design and development, silicone and thermoplastic molding and extrusion, complex catheter systems, assembly, packaging, and engineering services. Helix Medical operates FDA registered
medical device facilities, certified ISO 13485 with Class 7 & 8 cleanrooms. Established in 1984, Helix Medical currently manufactures in California, Massachusetts, Costa Rica, Germany, Ireland, and China. www.helixmedical.com
About Cambus Medical
Founded in 2006, Cambus Medical designs, develops, and manufactures critical components for minimally invasive medical devices used in diagnostic and therapeutic interventions. An ISO 13485 registered medical technology company; Cambus Medical has grown rapidly over the past 5 years through significant expansion of its capabilities and facilities. The company’s principal focus is the development and manufacture of hypotubes and catheter shafts used in angioplasty balloon catheters and stent delivery systems where the highest levels of performance are required. www.cambusmedical.com
Media Inquiries:
Holly Bruning
Wells Bruning Communications
949-500-7554
hwbruning@hotmail.com
