Devices & Diagnostics

Minnesota’s Lake Region Medical acquires Irish device company

The acquisition of a like-minded Irish device firm by Lake Region Medical suddenly gives the company research and development strength in that country, and the purchase will add new jobs both in Europe and in the company’s Chaska, Minnesota, headquarters.

MINNEAPOLIS, Minnesota — The acquisition of a like-minded Irish device firm by Lake Region Medical suddenly gives the company research and development strength in that country, and the purchase will add new jobs both in Europe and in the company’s Chaska, Minnesota, headquarters, the company said Monday.

Lake Region Medical’s Irish subsidiary acquired the company, Brivant Medical Engineering, which like Lake Region makes medical device guidewires for minimally-invasive cardiac surgery, as well as other procedures. Lake Region’s facilities in New Ross, Wexford County, are more than 150 miles away from Brivant’s operations in Galway. Lake Region has been operating in the country for 15 years and employs about 700 there.

Combining the companies will expand Lake Region’s European aspirations and speed the time it takes to get a product to market, the company stated. “We did not have research and development in Ireland,” Ron Von Wald, Lake Region’s global marketing director, told The New Ross Standard. “It has all been manufacturing. All of newer our products have been developed in America so it made it more difficult for newer products to move to Ireland.”

Terms of the agreement were not disclosed, though European media said the deal was for a multi-million Euro sum. The acquisition took effect on July 23.