Heart Device Firm Coming Here
GRAND RAPIDS — The six-month-old Cascade Engineering/Surge Medical joint venture, Surge Medical Solutions LLC has acquired the arrested heart products division of Chase Medical, a Richardson, Texas-based manufacturer of products that treat heart failure and coronary artery disease.
The acquisition of Chase Medical’s arrested heart products division accelerates Surge Medical Solutions’ efforts to provide innovative cardiovascular medical devices and accessories to heart surgeons worldwide.
Under the terms of its agreement with Chase Medical, Surge Medical Solutions will acquire a substantial portfolio of cardiovascular surgical tools and accessories, and an extensive network of distribution relationships both domestically and abroad.
As part of the acquisition, Chase Medical’s arrested heart manufacturing operations will transfer to Cascade Engineering’s campus in Grand Rapids. Financial terms of the agreement were not disclosed.
“This acquisition is a strategically important leap forward for our company,” said Ron DeVries, president of Surge Medical Solutions.
“The addition of Chase Medical’s well-established arrested heart products division will significantly expand our existing product portfolio and new product development capabilities, bolster our sales and distribution channel, and further our mission to improve surgical products and enhance patient outcomes.”
Cascade Engineering initiated a health care market diversification strategy beginning in 2004, collaborating with Surge Medical to explore the sector for emerging growth opportunities.