ST. PAUL, Minn., Feb. 1 /PRNewswire/ -- The globally active precious metal and technology group Heraeus strengthens its medical components product portfolio by purchasing the Interventional Business of Synovis Life Technologies, Inc., based in St. Paul, Minnesota. The transaction was closed on January 31, 2008. With this acquisition, the Heraeus Medical Components Division will employ over 700 people at 5 facilities in the U.S., Germany, Switzerland and Puerto Rico.
The Heraeus Medical Components Division develops, produces and distributes a wide range of metal-based components such as electrodes, coils, titanium cases, other micro precision parts, and raw materials for stimulation devices like Cardiac Pacemakers and Internal Cardiac Defibrillator. Additionally, they support other Interventional Medical Device companies with contract services of prototyping and manufacturing of coils, wire-forms, molded polymer and micro-machined metal components and complex assemblies.
Dr. Roland Gerner, managing director of W. C. Heraeus, the largest business segment of the Heraeus group and parent company of Heraeus Vadnais, noted: "When we first merged with Vadnais Technologies in 2004, our goal was to increase the presence of the medical group in the U.S. Now, with the acquisition of the Synovis Interventional Business, we further strengthen our strategically important Medical Components Division and our market share in the Medical Device Industry in the U.S. as well as in Puerto Rico where our main customers are located."
Dr. Nicolas Guggenheim, Head of the Medical Components Division, and Mark Kempf, President of Heraeus Vadnais, the local unit of the Medical Component Division of W. C. Heraeus, a subsidiary of the German based Heraeus group, are excited about the potential of this acquisition: "With the addition of this business, we are broadening our customer base and product range in the Medical Device Industry, increasing our manufacturing capabilities and intensifying our sales and distribution services."
Richard Kramp, Synovis Life Technologies President and CEO adds: "In Heraeus, we have found an excellent buyer that plans to offer employment to all of our interventional employees in Lino Lakes, Minnesota and Puerto Rico. Heraeus is a highly regarded OEM supplier in several industries."
The Heraeus Medical Components Division belongs to W. C. Heraeus, the largest business segment within the Heraeus group, a precious metals and technology company headquartered in Hanau, Germany. Heraeus is a global, private company active in the business areas of precious metals, dental health, quartz glass and specialty lighting sources. With revenues exceeding EUR 10 billion and more than 11,000 employees worldwide in over 100 subsidiaries and associated companies, Heraeus has been one of the leading companies in precious metals and materials technology for more than 155 years.
|SOURCE The Heraeus Medical Components Division|
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