WOBURN, Mass (Aug. 21)—CardioTech International Inc. recently purchased Catheter and Disposables Technology Inc. from Colorado MedTech Inc. to move into original equipment manufacturing. Included in the acquisition are CDT's 15,000-sq.-ft. Plymouth, Minn., manufacturing facility and 30 to 40 pieces of specialized equipment, according to Michael Szycher, CardioTech chairman and CEO. The plant's work force of about 20 has been retained. CDT operated as a division of Colorado MedTech, serving as an original equipment manufacturer of polyurethane products. Prior to the purchase, CardioTech primarily made medical grade polyurethane, produced some implantable medical devices and served as a research and development company. CardioTech also sold a small plant in Wales and the rights to two vascular grafts it developed to 3i Group P.L.C., a United Kingdom-based venture capital group. The company did not give financial details of either transaction.
CardioTech buys manufacturer
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].