Feb 16, 2022
Confluent Medical Announces Closing of Majority Investment from TPG
Partnership to provide capital and expertise to further strengthen company’s leadership as trusted medical device manufacturers
Scottsdale, AZ and San Francisco, CA, - (February 16, 2022) Confluent Medical Technologies (“Confluent”), a leading materials science, development, and manufacturing partner to medical device manufacturers today announced the closing of a majority investment from TPG Capital, the private equity platform of alternative asset management firm TPG.
On January 5, 2022, Confluent Medical announced that TPG Capital had signed a definitive agreement to acquire a majority stake in the company. TPG Capital joins existing investor Ampersand Capital Partners (“Ampersand”), which has retained a substantial minority interest in Confluent.
“With the support of TPG and Ampersand, we are well positioned to build on our mission to serve as a trusted partner to the medical device industry dedicated to integrity, exceptional quality, and operational excellence,” said Dean Schauer, President, and CEO of Confluent. “As we enter our next chapter, we look forward to continue expanding and building upon our current capabilities in complex Nitinol devices and implants, balloon and complex catheters, Cobalt chrome implants, and implantable textiles, while also expanding into new technical areas.”
Confluent is the leader in Nitinol-based medical component development and manufacturing, leveraging its complex design expertise, proprietary supply of high purity Nitinol, and manufacturing capabilities to deliver innovative, high-quality products. Throughout its lifetime, the company has evolved from a leading provider of Nitinol devices and components into a multi-capability organization specializing in the prototyping, design, development, and manufacturing of life saving implants, delivery systems, and other medical components for neurovascular, electrophysiology, structural heart, peripheral vascular, and minimally invasive procedures.
The closing of the investment from TPG Capital builds on a period of significant momentum for Confluent. Select highlights include the development of film cast capabilities for PTFE liners and polyimide tubing, investment into electrospinning capabilities for the attachment of textiles to implant frames that minimize suturing, and the expansion of capabilities into larger diameter Nitinol tubing for structural heart implants.
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