ST. PAUL, Minn. and PLYMOUTH, Minn., March 18, 2015 /PRNewswire/ -- Heraeus Medical Components, a global business unit of Heraeus Holding GmbH, has executed a share purchase agreement to acquire 100% of the stock in NeoMetrics. NeoMetrics, headquartered in Plymouth, Minnesota, specializes in designing and manufacturing guidewires and components for medical devices. The company's production facilities, in both Minnesota and Costa Rica, include cleanroom manufacturing and extensive guidewire fabrication technologies. Closing of this transaction is expected to occur in the next 60 days.
"With this acquisition, Heraeus Medical Components will add new interventional technologies to augment their leadership position as a sourcing solution for the world's medical device companies. We are excited about the potential growth opportunities within the interventional field," said Dr. Nicolas Guggenheim, President of Heraeus Medical Components. "NeoMetrics' experience in the development of interventional and vascular access guidewires substantially builds upon our existing component capabilities. We plan to use our combined expertise to bring new solutions for our medical device customers."
"We are excited to become part of Heraeus Medical Components," said Dave Liebl, President, NeoMetrics. "Joining Heraeus will allow us to support our continued growth, including the opportunity to introduce our products and expertise to new markets. Both companies share a culture of consistently exceeding customer expectations."
The management team and employees of NeoMetrics will continue as part of Heraeus, contributing important domain expertise and ensuring continuity for customers. Gene Champeau, co-founder and CEO of NeoMetrics will assist Heraeus in developing new business platforms and product strategies on a consulting basis. Heraeus intends to continue operation of both of the NeoMetrics facilities post-closing.
NeoMetrics, headquartered in Plymouth, Minnesota, is a private company that was founded in 2001. The company operates exclusively as an OEM partner of medical device companies. They specialize in designing, manufacturing and securing Regulatory clearance for interventional and vascular access guidewires.
Heraeus Medical Components is a global business unit of Heraeus Holding GmbH. Heraeus, the technology group headquartered in Hanau, Germany, is a global, private company with more than 160 years of tradition. We create high value solutions for our customers, strengthening their competitiveness for the long term. Our fields of competence include precious metals, materials and technologies, sensors, biomaterials and medical products, quartz glass, and specialty light sources.
In fiscal year 2013, Heraeus achieved product revenue of €3.6 billion and precious metals trading revenue of €13.5 billion. With some 12,500 employees in over 110 subsidiaries worldwide, Heraeus holds a leading position in its global markets.
SOURCE Heraeus Medical Components