Overview

Cirtec Medical ("Cirtec") is a leading global provider of outsourced medical device and components design, engineering and manufacturing, headquartered in Minnesota. Cirtec specialises in outsourced solutions for active implantable medical devices. Customers rely on Cirtec’s expertise to provide value-add solutions throughout the entire development cycle to help bring life-enhancing therapies to market.

The medical device outsourcing (MDO) market is expected to grow at a high single digit rate over the next five years and Cirtec is strategically indexed to the most innovative therapeutic end-markets that are growing at a rate beyond the broader MDO industry.

Highlights

• Helping Cirtec expand capabilities and footprint through the targeted acquisitions of Vascotube, Metrigraphics, NovelCath, Cardea, Cactus and Top Tool, and certain high-value IP assets in the highly fragmented MDO market
• Supporting the company’s organic growth initiatives, including expansion of capabilities, to increase vertically integrated offering to customers 
• Utilising our sector experience and international network to promote Cirtec’s organic growth plans, including low-cost Costa Rican footprint 
• Recruited William Hawkins (former Medtronic CEO) and William Ellerkamp (former ExtruMed CEO) to the Board of Directors

Regulatory information 
This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.