Cirtec Medical, a U.S. outsourcing partner for implantable medical devices, has acquired Vascotube GmbH, based in Birkenfeld, Germany. Vascotube specializes in high-quality nitinol tubes for medical applications such as stents and heart valves. ConAlliance advised one of the bidders in this transaction.
Cirtec Medical, an end-to-end outsourcing partner focused on implantable medical devices, has acquired Vascotube GmbH ("Vascotube") from Birkenfeld. Vascotube produces high-quality implantable tubes for the medical industry, primarily made of Nitinol, which are used in stents and heart valves. The company's management team, consisting of founders Uwe Seiler, Rudolf Frei-Wendlandt, and Wolfram Sinnwell, will remain with the company.
During a structured auction, the seller's advisor entered into due diligence with three interested parties. ConAlliance served as the commercial advisor to one of the prospective buyers. The sellers were advised by Oaklins, and legal advice to the buyer was provided by SKW Schwarz Rechtsanwälte.
Vascotube specializes in the production of high-quality Nitinol (NiTi) tubes, achieving a unique selling point with their specific specifications. Nitinol, a nickel-titanium alloy and the most well-known shape memory alloy, is used for surgical tools, endoscopes, and implants like stents and heart valves due to its high formability and excellent corrosion resistance. Nitinol is a relatively expensive material because alloying must occur under vacuum conditions, and even minor impurities can negatively impact its desired properties. This makes Nitinol suitable for high-precision medical applications but not for mass-produced products.
Cirtec Medical is a global development and manufacturing partner for medical devices and components, headquartered in Minnesota, with operations in the U.S. and Germany (Vascotube). Cirtec Medical specializes in outsourced solutions for active implantable devices, including implants for neuromodulation, drug delivery, cardiac rhythm management, and other minimally invasive devices. Recently, British private equity firm 3i Group plc invested a three-digit million amount in Cirtec Medical to support targeted growth through acquisitions.
The market for medical device outsourcing (MDO) is expected to grow in the high single-digit range over the next five years.