Modern Catheter Technologies
Hennepin Partners Advises Modern Catheter Technologies on its Sale to VitalPath
Maplewood, MN – Modern Catheter Technologies (“ModernCath” or “MCT”) has been acquired by VitalPath, a portfolio company of Inverness Graham Investments (“Inverness”). Hennepin Partners acted as the exclusive financial advisor to MCT and Lathrop GPM served as legal counsel. Terms of the transaction were not disclosed.
Based in Maplewood, MN, ModernCath provides complex catheter-based delivery systems for a range of endosurgical and interventional applications, with a primary focus on the neurovascular and electrophysiology markets. MCT is known for its high-quality product offering, easily customizable configurations, quick lead times and superior service to enhance customers’ time to market and profitability.
ModernCath’s expertise in microcatheters strengthens VitalPath’s service to fast-moving customers in the neurovascular, coronary and peripheral market segments. These include nine of the top ten Tier I OEMs and dozens of innovative early-stage medical device companies. The acquisition will also expand VitalPath’s ability to scale, increasing its total footprint to more than 80,000 square feet of manufacturing space, including 35,000 square feet of ISO 7 and 8 cleanroom space.
“ModernCath is a strategic addition to expand and scale the VitalPath platform,” stated Aliya Khaydarova, Managing Principal of Inverness Graham. “Their strong expertise in microcatheters focused specifically on neurovascular and electrophysiology applications is highly complementary to VitalPath’s expertise in the broader structural heart and peripheral vascular markets.”
“We are so thankful to have chosen Hennepin Partners to represent us. They made sure we were comfortable throughout the entire process and they were always available whenever we needed them,” said ModernCath President Doua Vang. “It was very important for us to find a partner who not only understood our vision, but shared our willingness to take on complex catheter projects for the most demanding applications. Joining VitalPath allows us to leverage our complementary technologies to offer our customers a more complete catheter manufacturing solution.”
“We are very excited to welcome ModernCath into the VitalPath family,” said VitalPath CEO Randall Sword. “Their exceptional extrusion capabilities will be a valuable addition to our strength in laser processing technologies and finished device manufacturing.”