WARWICK, RI and SUNNYVALE, CA--(Marketwire - February 05, 2013) - Biomedical Structures
(BMS), a developer of biomedical textiles for medical devices and other advanced clinical applications, and Modified Polymer Components
(MPC), which specializes in the design, rapid prototyping and manufacture of reliable, highly precise polymer components for medical device OEMs, today announced their merger. Jointly, the companies will better provide medical device customers with a full spectrum of value-added services across a wider range of applications. Ampersand Capital Partners will be the majority shareholder of the combined company.
Biomedical Structures specializes in the advanced design and manufacturing of medical textiles with expertise in knitting, braiding, weaving, and non-woven technology. The company utilizes a wide variety of implantable-grade absorbable and non-absorbable biomaterials in orthopedic, general surgery, tissue engineering, cardiovascular, bariatric, cosmetic surgery, and veterinary applications, including implantable devices and drug delivery technologies. Working with medical device developers from the ground up, BMS delivers purpose-built biomedical textile solutions from concept design through full-scale production and post-manufacturing. Its advanced textile engineering capabilities enable advanced medical device applications such as bifurcated stent grafts, tapered tendon and ligament repair structures, heart valve solutions, and more.
MPC focuses on the development and manufacture of reliable, highly precise polymer components for major medical device OEMs. Leveraging its proprietary heating system for molding and modifying plastics, MPC has established a market reputation for manufacturing extremely complex and precise medical device components. MPC's capabilities include tipping, flaring, hole drilling, marker band placement, reinforced tubing, printing, electrode assembly, and component level assemblies. MPC's production specialists excel at performing modifications of any complexity to custom and off-the-shelf plastic components including flaring, flanging, joining, tipping, coating, cutting, drilling, skiving and gluing. The company's engineers partner with medical device OEMs early in the design and prototype process, enabling the identification and resolution of potential design problems before production begins.
"We look forward to embracing our relationship with BMS and using our collective expertise to better serve medical device OEMs," said Mike Taylor, CEO of MPC. "With our joint capabilities, we will be a more robust organization that will bring greater value to customers with a wider variety of needs, both related to custom plastics components and medical textiles."
"MPC's unique bonding technologies are enabling exciting developments with custom plastic components for medical devices and other related industries, and we are pleased to be joining the companies to expand both our offerings and theirs," said Dean Tulumaris, CEO of BMS. "By merging BMS and MPC, both companies will benefit from a bicoastal presence and extensive combined resources, without affecting our existing commitments or the established level of superior quality and seamless operational efficiency our valued customers and employees have come to expect."
BMS and MPC plan to provide medical device OEMs with value-added design and contract manufacturing solutions supported by the polymer expertise of both teams of engineers. From plastics to innovative biomaterials, the joint BMS-MPC team delivers sophisticated technical expertise in purpose-built material solutions for medical device engineers, and now ensures a commitment to customer service from coast to coast. BMS and MPC will presently retain existing names and headquarters, while pursuing opportunities to collaborate on value offerings to the medical device market. Dean Tulumaris will lead the combined company and Mike Taylor will transition into his new role of chief technical officer, where he will focus on working with the company's engineers to develop new technologies and provide innovative solutions to their customers.
The companies will be exhibiting at the MD&M West event from February 12-14 in Anaheim, CA. BMS will be in booth 1451 and MPC will be in booth 2378.
About Biomedical Structures
Biomedical Structures LLC specializes in the advanced design, development and manufacturing of biomedical textiles for device manufacturers in the orthopedic, cardiovascular, general surgery, and tissue engineering and regenerative medicine markets. With specialized expertise in bio-polymer fabrication techniques, Biomedical Structures is enabling innovative implantable devices and other breakthrough medical applications. ISO 13485 registered, Biomedical Structures is a trusted outsourcing partner providing a full line of services from concept design to full-scale production, supply chain management, and post-manufacturing sterilization and packaging. For more information, visit www.bmsri.com.
MPC has been servicing the medical device market for more than 23 years, supporting OEMs, inventors and start-ups by manufacturing custom components and assemblies. The company leverages its proprietary RF heating process to provide manufacturing solutions typically thought impossible and its design and development capabilities are complimented by small and large-scale production. MPC is skilled in micro-molding, reinforced shafts, introducers, obturators, electrical assembly, and tube bending with all thermoplastics and many metals. Based in Sunnyvale, California, the company has a 49,600 square foot facility and is ISO 9001 and ISO 13485 certified. For more information: www.modifiedpolymer.com.
About Ampersand Capital Partners
Ampersand, based in Boston, is a leading private equity firm that focuses on middle market growth equity investments in the Healthcare sector. Ampersand leverages its unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand's portfolio has included more than fifteen years of successful investments in the medical device manufacturing industry. To learn more about Ampersand, please visit www.ampersandcapital.com.