Team Technologies has announced the acquisition of Duke Empirical, a company engaged in designing and manufacturing medical devices, particularly advanced catheters and minimally invasive delivery systems.
This move is aimed to broaden Team Technologies’ presence in the cardiology and interventional markets. By integrating Duke Empirical’s front-end design skills with its own manufacturing capabilities, Team Technologies aims to offer a more comprehensive service to its clients.
The financial terms of the deal were not disclosed.
Duke Empirical, which is headquartered in Morgan Hill, California, has expertise particularly in catheter design and high-precision assembly.
The firm provides a variety of catheters for procedures in fields such as cardiovascular and neurovascular medicine and offers custom development services for devices like guide catheters and balloon dilation catheters. These products are crucial in facilitating minimally invasive procedures.
Duke Empirical founder and CEO Robert LaDuca said: “We’re thrilled to bring our expertise in minimally invasive device design, development, and manufacturing to Team Technologies’ platform.
“This partnership gives us the scale, talent, and infrastructure to continue driving innovation and improve outcomes for patients worldwide.”
The acquisition will allow Team Technologies to enhance its offerings in the production of single-use medical devices, leveraging Duke Empirical’s specialised technologies.
Team Technologies, which operates out of Knoxville, Tennessee, with additional facilities across the US as well as in Mexico and Singapore, is an outsourced manufacturer serving major medical device and pharmaceutical OEMs.
Financially advised by Houlihan Lokey and legally advised by Goodwin Procter, Team Technologies undertook this acquisition to expand its turnkey solutions and streamline supply chains for its customers.
Team Technologies president and CEO Marshall White said: “This is a pivotal step in our strategy to become the full-service partner of choice for healthcare OEMs in high-growth, high-acuity end markets.
“With Duke’s complementary capabilities and innovative solutions, we are expanding the breadth and depth of services we offer to our partners while advancing our mission of Helping Those Who Help Others.”
