Resonetics Acquires Medical Business of Hutchinson Technology, Inc.
NASHUA, N.H., Nov. 3, 2020 /PRNewswire/ -- Resonetics announced today that it has acquired the medical business of Hutchinson Technology, Inc. (HTI). The HTI Medical business, based in Hutchinson, Minnesota, has developed a number of proprietary manufacturing processes to fabricate and assemble tight-tolerance, metal components for market-leading devices used to seal vessels in many types of surgery. The company has industry-leading processes to chemically etch blades, create ceramic features on metal substrates and to fabricate miniaturized electromechanical sensors. These sensors may be used in conventional and robotic surgery and with automated devices to provide real-time feedback to surgeons as well as to authenticate proper setup and utilization in the surgical suite.
"We're excited to add an array of innovative manufacturing processes developed over decades at HTI Medical" said Tom Burns, President & CEO of Resonetics. "These processes improve product performance while also reducing manufacturing costs. Looking forward, the ability to integrate mechanical and electronic components in a miniaturized package will enable our customers to broaden adoption of exciting new automated devices and advance surgical robotics to enhance precision, reduce human error, and improve patient outcomes." Resonetics has signed a long-term lease for 130,000 square feet in the Hutchinson, MN facility and will gain a tenured staff of nearly 150 engineers, technicians and skilled associates.
Founded in 1987, Resonetics is a pioneer in micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics is a leader in laser processing, centerless grinding, nitinol processing, thin-wall stainless steel tubing fabrication, precious metal forming, and other critical machining services. With seven Lightspeed Application Development Labs located strategically to serve MedTech companies around the world, Resonetics is built on a foundation of quality, speed and innovation to deliver best-in-class value with a customer centric approach. The company is ISO 13485:2016 certified with facilities in the United States, Costa Rica, Israel and Switzerland. Resonetics is owned by Regatta Medical, a portfolio company of GTCR. Learn more at www.resonetics.com
About GTCR and Regatta Medical
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™, finding and partnering with management leaders in core domains to identify, acquire and build market leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $18 billion in over 200 companies. For more information, please visit www.gtcr.com. Regatta Medical was formed in April 2017 as a partnership between Robert "Chip" Hance, Mark Weishaar, and GTCR. Regatta Medical's mission is to build a leading company in the medical device industry by acquiring outstanding medical device products and services businesses. For more information about Regatta Medical, please visit www.regattamedical.com.
Nov 03, 2020