Accellent Completes Lake Region Medical Purchase

Accellent Inc. has completed the acquisition of Lake Region Medical, a privately held, original development manufacturer of minimally invasive devices and delivery systems for OEMs in the cardiology and endovascular markets. As previously announced, the merged businesses will be called Lake Region Medical.

The deal was announced in February and terms were not disclosed.

“We are pleased to announce the closing of this acquisition and we believe it will be transformational for both companies,” said Don Spence, chairman and CEO of Accellent, who now will lead Lake Region Medical. “The new Lake Region Medical will have distinctive strengths in the interventional vascular business, and at the same time we expect to continue to grow our Advanced Surgical segment.”

The Fleischhacker family—founders of Lake Region—are significant shareholders in the newly combined company and Joe Fleischhacker is joining the company’s board of directors and will serve on the senior executive team.

“I look forward to working with Joe and the Fleischhacker family as we build the new Lake Region Medical and continue the success of both of our businesses,” Spence added.

“We are very excited about the future and what the merger of Lake Region’s strength in guide wires and wire based medical devices with Accellent’s strength in catheters will mean for our customers and employees,” said Fleischhacker. “This combination will create a supplier that can offer interventional delivery, access and retrieval systems to complement our customers’ core therapeutic devices.
The new Lake Region Medical will also have strong manufacturing capabilities to support our customers’ product needs for components, sub-assemblies and fully assembled devices in both the Cardio and Vascular and Advanced Surgical markets.”

Accellent’s company headquarters in Wilmington, Mass., will be the new headquarters for Lake Region Medical.

Don Spence and Joe Fleischhacker said, “The overall employee and customer feedback has been very positive and both teams are looking forward to a bright future together.”

Accellent Inc. provides integrated outsourced manufacturing and engineering services to the medical device industry, primarily in the cardiology, vascular and the advanced surgical markets. The company is owned by private-equity groups KKR & Co. and Bain Capital LLC.