Vesta Inc. (Franklin, WI), a support services company for the OEM medical device industry that provides silicone moldings, thermoplastic extruded tubing, assemblies, and secondary operations, has completed its acquisition of Extrumed LLC (Placentia, CA), the largest independent manufacturer of precision thermoplastic tubing for diagnostic and therapeutic medical devices and procedures. The merger will create a market-leading contract manufacturer of precision thermoplastic and silicone tubing, silicone molding, and device assembly operations, according to Apur Lathiya, vice president of sales and marketing at Extrumed, a portfolio company of Inverness Graham Investments and Wedbush Capital Partners. In addition, the merger does not include plans to combine the manufacturing facilities of the two companies but will focus instead on sharing best practices to make each organization stronger. The merged firms, he notes, will produce more than 60 million medical device components annually. "We are attracted to Extrumed's capabilities in high-precision thermoplastic tubing extrusion and its strong reputation for quality and customer service," says Joseph F. Damico, chairman of the board of Vesta and a founding partner of RoundTable Healthcare Partners, which holds a majority interest in Vesta. "Adding Extrumed's capabilities in thermoplastics to Vesta's core competencies in silicone-component manufacturing broadens the outsourcing capabilities we can provide to our customers." Extrumed CEO Bill Ellerkamp adds, "Vesta and RoundTable are ideal partners for Extrumed and its employees.... Vesta will be able to enhance our market position through their operational, sales, and marketing expertise as well as their relationships with medical device OEMs."
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