Heraeus Medical Components, a global business unit of Heraeus Holding GmbH, has entered into an agreement to acquire Evergreen Medical Technologies and its subsidiary, PhysioTest, effective October 31st. The acquisition of Evergreen Medical Technologies, a contract design, development and manufacturing partner to medical device and start-up companies with specific expertise in neuromodulation, will enable Heraeus Medical Components to offer a wider and deeper array of neuromodulation solutions to its medical device customers.
Founded in 2006, Evergreen Medical Technologies provides a combination of design and development capabilities, engineering precision and clinical insight to support medical device companies to develop a wide range of neuromodulation products and solutions, including implantable leads and stimulation devices. Dr. Nicolas Guggenheim, President of Heraeus Medical Components, noted that Evergreen’s expertise in neuromodulation was a driving factor in the transaction. He said, “With over 600 diseases of the nervous system, neuromodulation will be an increasingly important treatment option to improve patients’ quality of life. We continue to expand our capabilities in neuromodulation to support our medical device customers, and with this acquisition we will enable our customers to accelerate innovation in this therapy area.”
Heraeus is providing fully vertical integrated solutions from the base material to medical components, including assemblies and accessories to complete platform development and manufacturing for medical device customers. The addition of Evergreen Medical Technologies will bring together Evergreen’s neuromodulation engineering expertise with Heraeus’s high-volume global manufacturing and distribution expertise and its reputation for operational excellence. Guggenheim added, “The combined strengths of our two organizations will help medical device companies to further streamline their supply chains, bring cost-effective solutions to market faster and, most importantly, be clinically effective.”