M&As: Inverness Graham buys medical firm CMD; Canada’s IGI buys additives supplier Rheogistics

US firm Inverness Graham Investments, a private investment firm, has acquired Catheter & Medical Design (CMD). Based in Roseville, MN, CMD develops and manufactures complex catheters and catheter shafts for a broad range of interventional and endosurgical applications. This is the third Inverness platform investment in the medical device outsourcing market, following Inverness’ successful ownership of ExtruMed and AdvancedCath Technologies.

“We are excited to invest in another medical device outsourced manufacturing business and believe CMD is a highly attractive platform, offering a compelling value proposition to its global, blue-chip customer base,” stated Aliya Khaydarova, Managing Principal of Inverness Graham. “As medical device companies continue to outsource their complex design and manufacturing needs, we expect CMD to become an increasingly important strategic partner.”

Lucian Bejinariu, President/CEO of CMD, stated “I am very excited about partnering with Inverness Graham to continue the tremendous growth CMD has experienced and to leverage the additional financial and operating resources Inverness has to offer. We look forward to the continued expansion of our platform and the ability to offer more complex solutions and capabilities to our customers.”

In other news, Toronto-based wax producer and blender IGI (International Group Inc.) has acquired Rheogistics LLC, a supplier of lubricant systems to the rigid PVC industry headquartered in Picayune, Mississippi.

The financial terms of the deal were not disclosed.

“This acquisition will expand IGI’s presence in the rigid PVC market and add to our wax manufacturing and blending facilities strategically located across North America,” ICI officials said in a statement. “Rheogistics with expertise focused exclusively on the science of rigid PVC processing, will operate as a business unit within IGI’s group of companies.”

Founded in 2002, Rheogistics operates a modern manufacturing plant designed around a unique proprietary production process that produces innovative PVC lubricant solutions for its customers in the PVC market.

IGI operates a fully integrated supply chain including waxy feedstocks, refining, blending, and terminal facilities.

(PRA)

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