SAINT PAUL, MINN. (February 3, 2021) – Minnetronix Medical, Inc. a leading medical technology and operations partner to global medical device companies, announced today a majority recapitalization with Altaris Capital Partners, LLC. Altaris, an investment firm focused on the healthcare industry, actively manages $4.9 billion of equity capital and has been a minority investor in Minnetronix since 2015.
“Throughout our relationship with Altaris, we have achieved many milestones as a company,” said Jeremy Maniak, Minnetronix CEO. “Now, with our expanded partnership, we are excited to accelerate our strategy and move into the next stage of growth at Minnetronix.”
Headquartered in Minnesota, Minnetronix focuses on product development and manufacturing across the full product life cycle with specialized expertise in key technology segments, including RF energy, fluid and gas management, optical systems, and stimulation and wearable devices. The company also recently launched its whole product solutions, offering ready-made products and solutions for customers to add to their portfolios, as evidenced by the FDA-approved MindsEye™ Expandable Port for critical access in interventional neurosurgical procedures.
Minnetronix’ holistic, solutions-driven approach is unique in the industry. The company maximizes clinical performance, improves product quality, and lowers costs for its customers by eliminating waste through integrated development, manufacturing and supply chain processes.
“We are excited to expand our partnership with Minnetronix and build on the company’s rich heritage of accelerating medical device innovation for its customers,” said Jim O’Brien, managing director at Altaris. “We look forward to working with the Minnetronix team to support the company’s next phase of growth.”
Fox Rothschild LLP acted as legal counsel for Minnetronix. Schiff Hardin LLP acted as legal counsel for Altaris.
About Minnetronix Medical
Since 1996, Minnetronix Medical has accelerated medical device breakthroughs as a design, development and manufacturing partner to leading device companies around the world. Today, through life-cycle efficiency, opportunity realization, and increased utility, the organization is creating value in key technology segments, including RF energy, fluid and gas management, optical systems, and stimulation and active wearables. From design and manufacturing services to whole product solutions, Minnetronix brings expansive industry insight and intentional technical acumen, delivering better medical devices to market, faster. Minnetronix is based in St. Paul, Minnesota. More information can be found on the Minnetronix website, by calling 651-917-4060 or emailing [email protected].
About Altaris
Altaris is an investment firm focused on the healthcare industry. Altaris targets companies that deliver value to the healthcare system by improving patient outcomes, eliminating unnecessary costs, increasing efficiency and aligning stakeholder incentives. Since inception, Altaris has made 42 platform investments and today actively manages $4.9 billion of equity capital. Altaris is headquartered in New York City. For more information about Altaris, please visit www.altariscap.com
