MORGAN HILL, Calif., Nov. 24, 2020 /PRNewswire/ -- Paramit Corporation announced today that it has acquired Emphysys, Inc., a leading technology development firm specializing in complex systems and products for the medical device, life sciences, and industrial equipment industries. Combined with Paramit's product design and manufacturing expertise, Emphysys will support the front end of the leading healthcare product realization solution that Paramit delivers for its customers.
Based in Silicon Valley with operations in the U.S., Europe, and Malaysia, Paramit develops and manufactures medical devices and life science instruments for its industry leading customers. Emphysys, founded in 2009 and located just north of Boston, Massachusetts, specializes in power electronics, RF and microwave, embedded control systems, medical handpieces and consoles, motion control, and thermo-fluid systems.
"We are excited about what this new partnership will mean for our customers going forward," said Billoo Rataul, CEO of Paramit. "The work being done at Emphysys routinely pushes the boundaries of science, technology, and innovation. Our customers value time to market and strong IP while working with partners that can deliver complete long-term solutions. Paramit, further enhanced by the addition of Emphysys, will continue to be that unique partner for our customers."
Ali Shajii, CEO of Emphysys, commented: "As part of the Paramit team, Emphysys will now offer complete end-to-end "transferless" development services, spanning new technology invention through product development and into full scale, commercial manufacturing. In addition to augmenting Paramit's existing product development capabilities with deep expertise in technology development, Emphysys will provide a strong Boston-area presence to better serve and help drive growth with Paramit's customers in the medical device and life sciences markets. We are happy to be joining a global team with a commitment to excellence and look forward to continuing our success and growth together."
Schiff Hardin LLP acted as legal counsel for Paramit. Canaccord Genuity acted as exclusive investment banking advisor to Emphysys and Morse Barnes-Brown & Pendleton, PC acted as legal counsel.
Emphysys is a leading provider of technology development services to the medical device, life sciences, and industrial equipment industries. Emphysys uses a multi-disciplinary and holistic approach to solve customers' most challenging problems and provides a complete development solution from concept to a mature system prototype to achieve cost, performance, manufacturability, and reliability targets. Among many other areas, Emphysys has deep experience in RF and microwave power delivery systems, interactions of electromagnetics with various types of tissue, complex medical handpieces and consoles, plasma systems, as well as the required embedded control systems. The company is evenly distributed among electrical, mechanical, and software engineering as well as scientists and program managers.
Paramit is an FDA-registered manufacturer of medical devices and life science instruments. With operations in the U.S., Europe, and Malaysia, Paramit offers OEMs a low risk approach to designing, assembling, and testing mechatronic intensive devices such as point-of-use medical equipment and benchtop laboratory instruments. Paramit's vPoke® computer directed assembly process provides a zero-defect manufacturing environment in ISO 13485 certified facilities.