Maple Grove, Minnesota, May 27, 2021 – Midwest Interventional Systems (MIS), a leading partner to medical device companies providing custom turnkey solutions for design, development, and manufacturing of complex catheters and other minimally invasive delivery systems today announced the completion of a Series A financing with a group of experienced private healthcare investors.
Oversubscribed from original expectations, the Series A will enable MIS to accelerate the vertical integration of capabilities and continue its growth trajectory and support expansion initiatives that better serve its customers.
“This investment allows us to expand our clean rooms, continue development of specialized capabilities, and add key team members to support our growing base of MedTech customers”, said Adam Ahmad, CEO & President of MIS. “These enhancements help us strengthen our partnerships with customers serving the structural heart, neurovascular, electrophysiology, ENT, coronary, and peripheral intervention end markets”.
The Company’s recently expanded 25,000 square foot facility in Maple Grove, MN includes class 7 clean rooms, research and development facilities, testing labs, corporate offices, and flex space. The added capacity will allow MIS to decrease lead times and offer a new source of medical extrusions and balloons in a market with few high-quality options.
Adam added: “Our new investors provide access to long-term capital that will enable MIS to execute on our strategic goals. To that end, we expect to add an estimated 20 high-tech jobs in 2021, and an additional 60 by 2024. With the financing behind us, we are eager to provide our unparalleled level of service and drive exceptional outcomes for even more customers throughout the globe.”
About Midwest Interventional Systems
Midwest Interventional Systems is a private contract design & manufacturing company. They offer both specialized sub-assemblies and finished devices of catheters, delivery systems, and other minimally invasive medical devices. Midwest Interventional Systems provides custom turnkey solutions by partnering with companies ranging from start-ups to multi-national corporations within the minimally invasive device space. They currently operate out of Maple Grove, Minnesota.