Seisa Medical said today that it acquired stent and delivery device manufacturer Burpee MedSystems for an undisclosed amount.
New Jersey-based Burpee MedSystems was founded in 1998 and uses laser machining, surface finishing, nitinol forming and shaping and welding to create stents and delivery systems, El Paso, Texas-based Seisa Medical said.
“We are thrilled to be joining Seisa as it gives Burpee MedSystems the global infrastructure we’ve been aiming for to expand our offerings and capabilities to the market,” Burpee MedSystems CEO Janet Burpee said in a prepared statement.
Janet and co-founder Steve Burpee will continue to support Burpee MedSystems and will retain majority ownership of medical device incubator and holding company Tinker Med, which was previously wholly owned by Burpee MedSystems.
Seisa said that it funded the transaction through its $52 million senior secured credit facility, and added that it is actively pursuing prudent and accretive acquisitions.
“This acquisition demonstrates Seisa’s commitment to investing in vertical capabilities to create end-to-end solutions that deliver value to our customers. The marriage between Seisa’s high-volume production of FDA Class II and Class III devices with Burpee MedSystems’ mastery in the manufacture of complex stents, delivery systems, and components will provide a scalable one-stop-shop for customers focused on the high-growth markets for implantable stents and their delivery systems. We are excited to welcome the Burpee team to Seisa. Together we offer not only a compelling offering for strategic outsourcing solutions in the medical device market, but also provide all our employees more opportunities globally as well,” Seisa founder & CEO Julio Chiu said in a press release.
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