Visit cirtecmed.com

Overview

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.

How we add value 

Since our investment, we have helped Cirtec expand its capabilities and footprint through the targeted acquisitions of Precision Components, Vascotube, Metrigraphics, NovelCath, Cardea, Cactus and Top Tool, as well ascertain high-value IP assets in the highly-fragmented MDO market. We have also supported the company’s organic investments in capabilities and technology to more deeply vertically integrate within its existing end-markets as well as expand its capabilities to support entry into new markets.

Cirtec has also grown through completing 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. The company has also opened a new 32,000ft2 West Coast Center of Excellence in Santa Clara, California, dedicated to designing, developing and manufacturing Class II and III cardiology and neurology devices.

Finally, we used our Business Leaders network to recruit 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.