TPG Capital, the private equity platform of alternative asset management firm TPG, has made a majority investment in Confluent Medical Technologies. TPG will join existing investor, Ampersand Capital Partners which will retain a substantial minority interest.
CMT is a materials science, development, and manufacturing partner for medical device manufacturers. Confluent provides Nitinol-based medical component development and manufacturing. The firm has grown from a provider of Nitinol into a multi-capacity organization focused on prototyping, design, development, and manufacturing of medical components.
“With the support of TPG and Ampersand, we are well positioned to build on our mission to serve as a trusted partner to the medical device industry dedicated to integrity, exceptional quality, and operational excellence,” said Dean Schauer, president, and CEO of Confluent. “As we enter our next chapter, we look forward to continue expanding and building upon our current capabilities in complex Nitinol devices and implants, balloon and complex catheters, Cobalt chrome implants, and implantable textiles, while also expanding into new technical areas.”