SALT LAKE CITY and INDIANAPOLIS, April 30, 2018 /PRNewswire/ -- Biomerics and ATL Technology, in a joint venture (Biomerics ATL, LLC), announced on Tuesday, April 24, 2018, that they have entered into an agreement under which together they will acquire Catheter Research Inc. (CRI)'s assets in the Indianapolis and Costa Rica divisions.
CRI is a manufacturer of interventional catheters, tube sets, and other assemblies for medical devices with expertise in tube extrusion, catheter assembly, final FDA product packaging for sterilization. CRI services OEM customers as well as sell their own catheter line under the brand Thomas Medical.
"This acquisition is consistent with Biomerics' strategy to expand and invest in additional production and engineering capabilities to develop a global competitive advantage," said Travis Sessions, CEO, Biomerics. "CRI's products, manufacturing locations, and technology complement our current portfolio and broaden our product offering. The addition of the Costa Rica operations provides a unique low-cost high volume manufacturing platform for customers."
"Through the addition of CRI, we are in a position to serve the medical device industry at an even higher level," stated Brad Brown, CEO at ATL. "This expansion of our global network offers numerous benefits to both national and international OEMs. Now, combining ATLs connector know-how with CRI's catheter capabilities, we will make optimal use of our expertise and specialties relating to catheters and custom engineering in delivering a best-in-class product."
CRI has manufacturing both domestically (Indianapolis, IN) and internationally (Costa Rica). The employees at these locations will be working closely with teams from ATL and Biomerics throughout the integration process and as they work to expand the Costa Rica operation.
Biomerics specializes in the design, development, and production of medical devices for diagnostic and interventional procedures for the cardiovascular, structural heart, cardiac rhythm management, and vascular access markets. The company, formed in 2009, has grown into a leading supplier for the $250 billion dollar medical device industry. Biomerics has five locations, including facilities in Minnesota and Utah.
About ATL Technology
Based in Utah's "Silicon Slopes" and founded in 1993, ATL Technology combines the industry's best engineering experts and technology to deliver connectivity solutions for market-leading devices. With a domestic development center and offices around the world, ATL uses local teams and wholly owned global execution resources to take devices from concept to prototype and into scalable production. Turnkey interconnect solutions from ATL include connectors, wire design, overmolding, wire harness automation, surface mount technology (SMT), and injection molding.
SOURCE Biomerics, LLC