TriVirix, a manufacturer of medical and life sciences equipment, grew a bit larger on Monday.
The company announced that it had acquired the assets of UMM Electronics, a company based in Indianapolis, IN, which designs and develops medical devices. UMM also holds patents on rapid development of customized diagnostic meters.
Terms of the deal were not disclosed.
The acquisition follows two made by TriVirix in 2002 – medical electronics assembly plant from Medtronic and a printed circuit board assembly plant from Fujitsu. Just a year ago, TriVirix also raised a $25 million “D” round of investment. The company has raised more than $40 million. The company was founded in 1998 with seed funding provided by Aurora.
TriVirix said the company would operate as a wholly owned subsidiary of TriVirix and use the TriVirix name.
“UMM was an ideal acquisition target because of its singular focus on the medical market,” said Richard West, chief executive officer at TriVirix, in a statement. “We share a common understanding of the market’s unique challenges and government regulations. We are now in a stronger position to help companies address those challenges.”
TriVirix operates as a contract manufacturer and employs more than 200 people.
UMM was part of Leach Technology Group.
According to TriVirix, the acquisition “significantly bolsters” its product design and development services and offering more manufacturing solutions. UMM, a 16-year-old firm, has built more than 2 million medical devices.
TriVirix also said the deal gives it access to UMM’s customer base plus a prototype model shop. The company also will retain key technical personnel.
TriVirix: www.trivirix.com
