Cirtec Acquires IP Assets of Nuvectra to Bolster Neurostimulation R&D Platform
Manoswita Naha, Content Writer, 0
Cirtec Medical Corporation, a trusted partner in outsourcing critical & complex medical devices, publicly announces to acquire IP rights of Nuvectra's assets, making its Neurostimulation platform accessible in the market for various therapeutic purposes. The acquisition will enhance the portfolio of Cirtec’s Solace Neurostimulation R&D Platform by supporting the customers with an FDA approved platform in developing vital innovations in neuromodulation products.
Brian Highley, Cirtec CEO asserts, “Cirtec is committed to serving as the leading end-to-end outsource partner in the neuromodulation market. This acquisition is part of our broader strategy to accelerate our customers' time to market, minimize development spend and commercialize innovative solutions for therapy delivery. Our portfolio of off-the-shelf components; a robust engineering team; and significant manufacturing capacity and expertise make us the leading partner to innovators in the market”.
The Nuvectra owns a complete shop for intellectual property rights associated with cutting edge neuro medical devices like the spinal cord stimulation (SCS), brain stimulation (DBS) and sacral nerve stimulation (SNS) platforms.
This acquisition is part of our broader strategy to accelerate our customers' time to market, minimize development spend and commercialize innovative solutions for therapy delivery
These devices are praised for its easy user-interface and portable designs, making it a versatile platform to provide sustainable therapy for the patients in the long run. For Cirtec Medical, which aims to provide an end-to-end solution to the customers, Nuvectras platform will further strengthen its customer base by opening a new outlook in methodizing their therapeutic approaches.
Cirtec houses the most advanced medical technologies like neuromodulation, implantable drug delivery, cardiac rhythm management, minimally invasive systems which include Transcatheter aortic valve replacement (TAVR). Likewise, it is envisaging in expanding its wing in the neuromodulation market, which includes investments in building an 85,000 sq. ft. the manufacturing facility in Brooklyn Park, MN, making it the next stop for a Neuromodulation Center of Excellence. Alongside it plans to for another 30,000 square feet manufacturing facility in the Costa Rica Coyol Free Zone and in dispensing its monetary strength in ASIC design and thin film leads technologies.