Paramit Corporation Acquires Emphysys, Inc.
New York, NY—Paramit Corporation, a portfolio company of Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”), has acquired Emphysys, Inc., a leading technology development firm specializing in complex systems and products for the medical device, life sciences, and industrial equipment industries. The business combination will strengthen Paramit’s product design and development capabilities, as well as add a strategic presence for the company in the rapidly growing Greater Boston market.
Based in Silicon Valley with operations in the U.S., Europe, and Malaysia, Paramit develops and manufactures medical devices and life science instruments for its industry leading customers. Emphysys, founded in 2009 and located just north of Boston, Massachusetts, specializes in advanced power systems, radiofrequency and microwave technologies, motion controls and thermo-fluid systems.
“We are excited about expanding our offering to customers,” said Billoo Rataul, CEO of Paramit. “The work being done at Emphysys routinely pushes the boundaries of science and technology, and is a perfect complement to our existing areas of focus. Our customers value partners who enable their innovations and accelerate the timeline to market. With the addition of Emphysys, Paramit will provide an enhanced solution set to our global customer base.”
Ali Shajii, CEO of Emphysys, commented: “As part of the Paramit team, Emphysys will now offer complete end-to-end “transferless” development services, spanning new technology invention through product development and into full scale, commercial manufacturing. In addition to augmenting Paramit’s existing product development capabilities with deep expertise in technology development, Emphysys will provide a strong Boston-area presence to better serve and help drive growth with Paramit’s customers in the medical device and life sciences markets. We are happy to be joining a global team with a commitment to excellence and look forward to continuing our success and growth together.”
Schiff Hardin LLP acted as legal counsel for Paramit.