Medical Devices Acquisitions in Rhode Island

Hitachi High-Tech Corporation has acquired a majority interest in Nabsys, a Providence-based developer of the OhmX electronic genome mapping platform, making Nabsys a consolidated subsidiary. The deal aims to accelerate commercialization and global adoption of Nabsys' genome-mapping instrumentation and consumables and to strengthen Hitachi High-Tech's molecular diagnostics and genomics capabilities by combining Nabsys' hardware with Hitachi High-Tech's Human Chromosome Explorer analytics.

Precision Coating has acquired Providence Texture, LLC, a Smithfield, Rhode Island laser services provider specializing in laser nanotexturing, marking and micro-machining. The acquisition brings femtosecond and nanosecond 5-axis laser processing capabilities into Precision Coating's medtech surface-treatment portfolio to expand capabilities for orthopedic, interventional and surgical implant markets.

Water Street Healthcare Partners has made a strategic investment in Alcor Scientific to support the diagnostic- and medical-device maker's product development, geographic expansion and M&A growth strategy. As part of the partnership Alcor appointed diagnostics executive Jim Post as CEO and will leverage Water Street's capital and industry expertise to expand its product portfolio and global reach.

UFP Technologies, Inc. (Nasdaq: UFPT) has acquired Contech Medical, Inc., a Providence, Rhode Island–based designer and manufacturer of class III medical device packaging for catheters and guidewires. Contech, founded in 1987 with partner manufacturing in Costa Rica and approximately $18 million in annual sales, will expand UFP's MedTech capabilities and is expected to be accretive to earnings.

HealthpointCapital, a private equity firm focused on musculoskeletal healthcare, acquired a majority stake in IlluminOss Medical, a commercial-stage medical device company that makes the Photodynamic Bone Stabilization System for fracture repair. HealthpointCapital said it will partner with IlluminOss to accelerate commercialization, expand regulatory approvals, and drive growth in the orthopedic trauma and geriatric fracture markets. Transaction terms were not disclosed.