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 Precision Components, 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 investments in capabilities and technology to more deeply vertically integrate within existing end-markets and expand capabilities to support entry into new markets
• Completed three greenfield facility build-outs, adding >120ft² of capacity and creating a low-cost footprint in Costa Rica, and executed four additional expansions of existing facilities to support customers with broader capacity
• 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.