Inverness Graham-backed VitalPath Acquires Modern Catheter Technologies

Catheter & Medical Design (Inverness Graham-backed) Acquires VitalDyne Medical

March 15, 2021

Medical Devices

Inverness Graham-backed Catheter & Medical Design (CMD) acquired VitalDyne Medical, a Cokato, Minnesota-based contract manufacturer, on March 10, 2021. The add-on expands CMD's capabilities with VitalDyne's laser cutting, welding, micro‑machining and finished-device manufacturing to support minimally invasive cardiovascular, neurovascular and structural heart device customers.

Inverness Graham Acquires Catheter & Medical Design (CMD)

June 18, 2020

Medical Devices

Inverness Graham Investments acquired Catheter & Medical Design, Inc. (CMD), a Roseville, Minnesota-based developer and manufacturer of complex catheters and catheter shafts for interventional and endosurgical applications. Inverness Graham said CMD will serve as a platform investment in the medical device outsourcing market and plans to grow CMD organically and via strategic add-ons; terms were not disclosed.

Cirtec Medical Acquires NovelCath

December 17, 2020

Medical Devices

Cirtec Medical Corporation has acquired NovelCath, a vertically integrated manufacturer of catheter delivery systems based in Brooklyn Park, Minnesota. The acquisition expands Cirtec's capabilities in minimally invasive interventional and structural heart device manufacturing and establishes the NovelCath facility as Cirtec's Center of Excellence for Catheters and Delivery Systems.

Cirtec Medical Acquires Cardea Catheter Innovations

July 26, 2021

Medical Devices

Cirtec Medical has acquired Cardea Catheter Innovations, a San Jose-based manufacturer of minimally invasive catheter devices and complex delivery systems. Cardea will integrate into Cirtec's NovelCath brand to expand the company's interventional capabilities across structural heart, electrophysiology, and neurovascular markets and will relocate into Cirtec's new San Jose Center of Excellence.

ICU Medical Acquires Pursuit Vascular

November 4, 2019

Medical Devices

ICU Medical, Inc. agreed to acquire Pursuit Vascular, Inc. for $75 million plus a potential earnout, bringing the ClearGuard HD antimicrobial catheter cap into ICU Medical’s consumables portfolio. The acquisition expands ICU Medical’s infection-prevention product offerings and distribution channels (domestic and international); Pursuit Vascular’s 2019 revenue was an estimated $10–12 million.

Medical Manufacturing Technologies (MMT) Acquires Innova Design, Inc.

August 25, 2025

Medical Devices

Medical Manufacturing Technologies (MMT), a portfolio company of Arcline Investment Management, has acquired Innova Design, Inc., a pioneer in laser bonding equipment for catheter and interventional medical device manufacturing. The acquisition expands MMT’s bonding technology suite—adding Innova’s laser bonder platforms and related capabilities—to better serve medical device OEMs globally.