WEINHEIM, Germany (Oct. 19, 2012)—Freudenberg Group is purchasing MedVenture Technology Corp., a manufacturer and designer of medical devices, for an undisclosed amount.
MedVenture is based in Jeffersonville, Ind., and produces minimally invasive surgical devices. The company employes 260, Freudenberg said.
"Freudenberg is systematically expanding its expertise in medical technology with the additional knowledge that MedVenture possesses in solutions for minimally invasive medical devices," said Mohsen Sohi, a member of the Freudenberg Group board.
Helix Medical is targeting sales in excess of $140 million in 2013 through the acquisition of MedVenture and other expansion steps, Freudenberg said.
MedVenture is a leading designer, developer, and manufacturer of complete non-electronic, minimally invasive surgical devices and catheter-based devices, Freudenberg said. Its products are used in cardiovascular surgery, cardiology, neurology, urology, oncology and gynecology.