CAMPBELL, Calif. and WELLESLEY, Mass., Feb. 2, 2017 /PRNewswire/ -- Corpus Medical, Inc., a Silicon Valley-based contract development and manufacturing organization focused on interventional medical devices, catheter-based delivery systems and implants, announced today that it has completed a majority recapitalization with Ampersand Capital Partners. Ampersand's investment will be used to further expand the Company's manufacturing capabilities and geographic footprint.
Corpus founder and CEO Brice de La Menardiere said, "We are very excited about our partnership with Ampersand. They have a successful track record of building middle market companies in the healthcare sector, and their expertise in medical device manufacturing will be invaluable as Corpus looks to accelerate its growth with additional capabilities and manufacturing capacity. This partnership will help Corpus better serve the needs of our current and prospective customers, from development through commercial scale manufacturing."
"The Corpus team has done an impressive job building a leading outsourced partner to medical device companies of all stages, including several of the largest OEMs in the world. Corpus represents an excellent fit with our strategy of partnering with high-growth companies with differentiated capabilities, and we look forward to working with management to continue the Company's impressive growth trajectory," said Trevor Wahlbrink, Principal at Ampersand.
The Company was founded by the senior management team in 2009 to provide value-added contract development and manufacturing services, with the mission of assisting customers to get their products to market more efficiently. Corpus will continue to operate from its Campbell, CA headquarters, where it has made meaningful recent investment in cleanroom manufacturing capacity, and the current management team will continue to lead the Company. In addition to enhanced capabilities and capacity, further investment into expansion of the management team is expected.
About Corpus Medical
Located in the heart of the Silicon Valley, Corpus Medical is a leading provider of high-quality consulting and manufacturing services for the development and commercialization of innovative interventional medical devices. Corpus Medical specializes in catheter technologies, assembly of fully packaged devices and medical implants. Additional information about Corpus Medical is available at www.corpusmed.com.
About Ampersand Capital Partners
Ampersand is a middle market private equity firm with a focus on growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed more than $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Additional information about Ampersand is available at www.ampersandcapital.com.
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SOURCE Ampersand Capital Partners