Cirtec Medical Systems LLC has made an undisclosed investment in Core Manufacturing LLC, a company that manufactures implantable devices.
Core Manufacturing, headquartered in Valencia, Calif., also provides testing services related to the devices. Cirtec designs, develops and manufactures implantable medical devices, including pacemakers (pictured), implantable cardiac defibrillators, cochlear implants and artificial heart valves.
The deal, announced March 8, will give Cirtec greater manufacturing capabilities.
The implantable medical devices include Los Gatos, Calif.-based Cirtec is owned by private equity firm Century Park Capital Partners, a Los Angeles-based firm that usually provides between $10 million and $40 million equity investments. Century Park’s investments include Specialty Manufacturing Inc., Moss Inc. and ICM Products Inc.
The health care industry has seen lots of M&A recently, including Fifth Street Finance Corp.'s (Nasdaq: FSC) acquisition of health care lender Healthcare Finance Group, Takeda Pharmaceutical's purchase of Inviragen and ECM Equity Capital Management's MediFox Group buy.
The medical device industry in particular, has seen a surge in M&A, according to "Medical Devices Drive Health Care M&A," a feature that will appear in Mergers & Acquisitions June issue of the magazine.