Cirtec Medical acquires US firm Stellar Technologies
Century Park Capital Partners portfolio company Cirtec Medical has acquired US-based Stellar Technologies, for an undisclosed sum.
Based in Brooklyn Park of Minnesota, Cirtec Medical provides precision machining, component manufacturing, and assembly services for medical devices sector.
The company offers services, comprising of neuromodulation lead wire assemblies, mechanical assemblies, delivery systems, and electro-mechanical medical devices.
It is specialized in component manufacturing, including micro machining, medical machining, neuro lead wire assembly, device assembly, delivery systems, laser tube cutting, laser welding, laser assembly, Swiss machining, clean room assembly and wire coiling.
The acquisition will enable Cirtec to provide a full suite of services to its customers, in addition to establishing it as the premiere contract manufacturer for Class III medical devices.
Cirtec CEO Brian Highley said: “The acquisition of Stellar will further enhance our commitment to providing our customers with the latest innovative technologies, specifically in the high-growth neuromodulation market.
“We are also very excited to join Minnesota’s ‘Medical Alley’ with this acquisition. The greater Twin Cities area has long been known as a major center for medical technology and device companies.”
Century Park Capital Partners managing director Chip Roellig said: “The combination of Stellar and Cirtec will open up a wide range of market synergies for both companies as they are able to cross-sell products and services to each other’s existing customer bases.”
Cirtec offers design, development, manufacturing and product transfer services for the medical device industry.
The firm provides outsourced solutions for active implantable devices in the areas of neuromodulation, drug delivery, cardiac rhythm management, ventricular assist, and minimally invasive devices.