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Freudenberg Medical Acquires Majority Stake in Hemoteq AG

Enhances capabilities with surface coating technology for medical devices

CARPINTERIA, Calif. – August 18, 2015 – Freudenberg Medical, a global developer and manufacturer of specialty components and minimally invasive device solutions for the medical device and pharmaceutical industry, has acquired the majority of Hemoteq AG, a leading provider of surface coating technologies and related services for medical devices.

Hemoteq, based in Würselen, Germany, develops innovative coating solutions for combination products like drug eluting stents, as well as coatings for catheters and cochlear implants, and is the market leader for drug-coated balloon catheters. The company holds over 100 technology patents in innovative surface technologies.

“Hemoteq’s coating technology adds a key technology component to our portfolio and represents an important milestone in our long-term strategy to provide a full suite of innovative technology services to our global medical device OEM customers,” said Jörg Schneewind, President and CEO of Freudenberg Medical.

Hemoteq provides comprehensive services from the development of the medical device to regulatory approval and serial production. Freudenberg Medical develops and manufactures minimally invasive systems as well as components made of silicone, thermoplastics, and specialty metals; those surfaces can be modified with active-ingredient coatings for optimal efficacy of the medical device.

Under the transaction, Freudenberg Medical will acquire 75% of Hemoteq AG from the current shareholders, Earlybird Venture Capital and Pinova Capital. The remaining shares are held by the founders of Hemoteq, Michael Hoffmann and Roland Horres, who together with the CFO, Thomas Löwen, will continue management of the company. Max Kley, President of Freudenberg Medical Europe and Specialty Components, will become Chairman of the Supervisory Board.

“The product and service spectrum of Hemoteq perfectly complements the capabilities of Freudenberg Medical,” said Max Kley. “With the combination of our material and processing expertise and Hemoteq's leading coating technologies we can provide our customers a unique portfolio of product solutions.” Added Michael Hoffmann, CEO of Hemoteq AG, “Freudenberg Medical offers Hemoteq excellent market access to offer our solutions worldwide. The long-term orientation and financial stability of Freudenberg assures our customers that we can reliably support them over long development processes and throughout their product life cycles.”

 

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