Novalung and Medos start cooperation

Due to the acquisition of Medos Medizintechnik AG by the private equity fund Zukunftsfonds Heilbronn (“Future Fund of Heilbronn”) the company will cooperate closely in the future with Novalung GmbH, which is expected to strengthen both medical device companies.

The Zukunftsfonds Heilbronn (zfhn) announced that it has acquired Medos Medizintechnik AG from Ventizz Capital Partners Advisory AG. The purchase agreement was signed on January 7, 2011. With this acquisition medical device technology has become the most important sector for the private equity fund. Thomas Villinger, Managing Director of the zfhn, explained the decision behind this acquisition: ”The medical device sector is characterized by solid growth and is independent of economic cycles.“ He noted further that “Medos and Novalung are technological leaders is different markets, namely cardiac support and lung support. Their innovative technologies complement one another extremely well, and a close cooperation will enable even better utilization and speed up further developments.“

Dr. Volker Hamm, who has been named to join the Medos Management Board, noted with pleasure: “We are very happy about this development. Novalungs excellent market know-how in the field of lung support will provide a much broader customer base for our high-tech products.“ Hamm also noted that Christian Palme will join Thomas Villinger on the Supervisory Board of Medos. The Medos facilities in Stolberg und Radeberg will continue their operations after the acquisition.

Dr. Georg Matheis, Managing Director of Novalung GmbH since its founding eight years ago, emphasized that Novalung, after thousands of treatments using the company’s artificial lung, the iLA Membrane Ventilator®, has firmly established itself. “The innovative therapy for the treatment of lung failure without invasive mechanical ventilation is now well accepted” the former cardiothoracic surgeon noted. ”In order to further expand our market leadership as the pioneering company in this field, we will develop a full product portfolio in 2011. With the cooperation with Medos this can be accomplished more quickly than we originally expected.“ Matheis also pointed to the newest member of Novalung’s executive management team, Josef Bogenschütz, who left medical device company Maquet and join Novalung just a few weeks earlier. “In addition to strong leadership, Josef Bogenschütz brings with him great expertise in the development and manufacturing of artificial lungs. With him on board we are ideally positioned to aggressively develop additional innovative solutions for the replacement of invasive mechanical ventilation. Together, and with the support of our clinical partners, we will realize the vision of increasingly avoiding the damage of invasive mechanical ventilation.“

Bogenschütz, who most recently drove the successful growth of Maquet Cardiopulmonary AG as President and CEO, is equally optimistic concerning the expansion of the zfhn portfolio. ”I am pleased that this new cooperation provides so many areas of synergy for both companies. We will jointly leverage our know-how in the high-end cleanroom manufacturing of artificial lungs to further optimize our manufacturing efficiencies.“ He also presented Novalungs core strategy to intensify the company’s research and development activities and to further expand sales in the core markets in Europe and the USA.

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http://www.openpr.com/news/159889/Novalung-and-Medos-start-cooperation.html