Minnetronix Medical Announces Recapitalization with Altaris Capital Partners
Saint Paul, MN—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.