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.
Vention, headquartered in Marlborough, Mass., specializes in minimally invasive medical devices. The company focuses engineering and device assembly of medical balloons, heat-shrink tubing and clean room injection molding.
As part of the deal, RiverTech shareholders will now own shares in Vention, according to the release.
"The addition of RiverTech further strengthens Vention’s ability to deliver innovative component technologies to our partners, allowing us to provide customers with more complex solutions faster," said Vention CEO Dan Croteau in a statement.
In August 2011, Vention took over NSAmed, an Ireland-based medical tubing company, an acquisition the company used an as opportunity to set up a European base for distribution.