Freudenberg Group acquires 50% stake in VistaMed
The Freudenberg Group and its affiliate Helix Medical Europe have acquired a 50% share of VistaMed Ltd, the Irish manufacturer of components for medical devices. The two companies are expecting the cooperation to provide synergies in the development of products and services as well as market penetration.
With this move, the Freudenberg Group is expanding its activities in this growth industry. Only a year ago, Freudenberg set up its European headquarters for medical technology in Kaiserslautern.
VistaMed, with its headquarters in Carrick-on-Shannon, has two production facilities in Ireland, where complex medical tubing systems and precision components for medical devices are produced under cleanroom conditions. Examples of applications include catheters for minimally invasive surgical procedures and endoscopic components.
Established in 1997, VistaMed employs 85 people. “This technological alliance with VistaMed provides greater opportunities for both companies to develop and manufacture a broader range of innovative products and services for global customers”, said Jorg Schneewind, president and ceo of Helix Medical LLC.
The VistaMed acquisition further underscores Freudenberg’s commitment to this growth industry – which started in 2004 with the acquisition of Jenline Industries, a US manufacturer of liquid silicone rubber products for the medical device and healthcare market. The Group then went on to purchase Helix Medical in California in 2006, followed by APEC in 2008 with production facilities in California and China.
In March, 2009, the Freudenberg Group announced the establishment of a European headquarters for medical technology in Kaiserslautern, Germany where production was launched in March 2010. The management of VistaMed will continue to run the company and bring their valuable experience and knowledge into the Freudenberg Group.
www.freudenberg.com www.vistamed.net
