Biomedical Structures and Modified Polymer Components Merge
Warwick, R.I.-based Biomedical Structures (BMS) and Sunnyvale, Calif.-based Modified Polymer Components (MPC) will go coast-to-coast with a merger. The former is a developer of biomedical textiles for medical devices and other advanced clinical applications. The latter specializes in the design, rapid prototyping and manufacture of polymer components for medical device OEMs. Together, the companies hope to provide medical device customers with a full spectrum of value-added services across a wider range of applications. Ampersand Capital Partners, a Boston, Mass.-based private equity firm that focuses on middle-market growth equity investments in the healthcare sector, will be the majority shareholder of the combined company.
BMS’s experience in medical textiles includes knitting, braiding, weaving and non-woven technology. The company uses implantable-grade absorbable and non-absorbable biomaterials in orthopedic, general surgery, tissue engineering, cardiovascular, bariatric, cosmetic surgery and veterinary applications, including implantable devices and drug-delivery technologies. Working with medical device developers, BMS delivers purpose-built biomedical textile solutions from concept design through full-scale production and post-manufacturing. The company also provides advanced medical device applications such as bifurcated stent grafts, tapered tendon and ligament repair structures, and heart valve solutions.
MPC uses its proprietary heating system for molding and modifying plastics to manufacture medical device components. The company’s capabilities include tipping, flaring, hole drilling, marker band placement, reinforced tubing, printing, electrode assembly, and component level assemblies. According to the newly combined company, MPC’s production specialists can perform modifications of any complexity to custom and off-the-shelf plastic components including flaring, flanging, joining, tipping, coating, cutting, drilling, skiving and gluing.
“We look forward to embracing our relationship with BMS and using our collective expertise to better serve medical device OEMs,” said Mike Taylor, CEO of MPC. “With our joint capabilities, we will be a more robust organization that will bring greater value to customers with a wider variety of needs, both related to custom plastics components and medical textiles.”
“MPC’s unique bonding technologies are enabling exciting developments with custom plastic components for medical devices and other related industries, and we are pleased to be joining the companies to expand both our offerings and theirs,” said Dean Tulumaris, CEO of BMS. “By merging BMS and MPC, both companies will benefit from a bicoastal presence and extensive combined resources, without affecting our existing commitments or the established level of superior quality and seamless operational efficiency our valued customers and employees have come to expect.”
Tulumaris will lead the combined company and Taylor will transition into his new role of chief technical officer, where he will focus on working with the company’s engineers to develop new technologies and solutions for customers.