Contract Manufacturer Acquires Medtronic Business

Originally Published MPMN June 2003

INDUSTRY NEWS

Contract Manufacturer Acquires Medtronic Business

A company that supplies contract manufacturing and assembly services to medical device OEMs has acquired selected assets comprising the cardiac surgery manufacturing business of Medtronic Inc. (Minneapolis; www.medtronic.com). Atek Manufacturing (Brainerd) has formed a subsidiary called Atek Medical Manufacturing to operate the business, which is located in Grand Rapids, MI.

Medtronic Cardiac Surgery manufactures products for cardiac surgery such as perfusion cannulae and tissue stabilizers. Under the terms of the agreement, Atek will produce these devices for Medtronic, but it will also seek to diversify operations. "We plan on becoming a leading medical contract manufacturer [through investment] and by seeking to expand current business opportunities and [attracting] other new OEM customers," says Atek CEO Christy Bieber Orris.

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