October 2, 2024, Boston, MA – Due to BCS, LLC ‘s involvement in this transaction, BCS is especially pleased to announce that Nissha Co., Ltd., has acquired Cathtek, LLC (North Carolina). Cathtek is a full-service medical device manufacturer with two Winston-Salem facilities offering end-to-end capabilities to medical device OEMs for the design, development, injection molding, regulatory approval, and automation enabled full-scale production of disposable medical devices.
Nissha is a Japanese publicly held company based in Kyoto, Japan. Nissha’s Industrial Materials Business Unit (“IMBU”) engages in the planning, development, production and sale of materials and components for various industries, including medical and consumer healthcare devices. Nissha’s wholly owned subsidiary, Eimo Technologies, Inc., operates state-of-the-art manufacturing facilities in Vicksburg, Michigan serving tooling and molding services to customers in the automotive, medical, government and consumer product industries.
Several years ago, Mark Martel, Cathtek co-founder and Vice President of Engineering, reached out to BCS for assistance. A large OEM customer wanted them to manufacture an IV access device that Cathtek had developed. This would require high volume manufacturing and automation lines; a big change from the lower volumes and mostly hand assembly of Cathtek’s current operations. Furthermore, this project had the potential to require multiple global facilities in the future.
BCS dug into the project and spent a lot of time with Mark and his co-founder Todd Cassidy. BCS had confidence that Cathtek could scale the initial volumes but concluded that finding a global medical manufacturing partner would ultimately be the best pathway to achieve existing manufacturing goals and provide an unmatched go forward value proposition to its customers.
BCS recommended that Cathtek engage Covington Associates – a Boston based investment banking advisory firm – to find a global partner to assist Mark and Todd successfully make the transition from a Design/Development, low volume manufacturing operation into one that could also deliver global high volume manufacturing capabilities. BCS and Covington worked seamlessly together with Cathtek and ultimately found that partner in Nissha, Co., Ltd.
“Congratulations to Cathtek and Nissha! It was a real pleasure working with Covington and Mark and Todd on this transaction. BCS is confident that this is a great partnership that will deliver great products for its customers globally!”, said Mark Bonifacio of BCS Medtech Manufacturing Consulting.
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