Surge Medical
Solutions Acquires Chase Medical Arrested Heart Products
Division
New Company Accelerates Expansion In Heart Device Arena
GRAND
RAPIDS, Michigan, November 2, 2005 – Surge Medical Solutions,
LLC announced today that it 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. Surge Medical Solutions
was established in March as a joint venture between Cascade
Engineering, a leader in engineered plastics systems and
components, and Surge Medical, a Holland, Michigan-based
developer and distributor of products for the cardiovascular
surgery, emergency services and medical accessories markets.
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 from Richardson,
Texas to the Cascade Engineering campus in Grand Rapids, Michigan.
Financial terms of the agreement were not disclosed.
Cascade
Engineering initiated a health care market diversification
strategy beginning in 2004, collaborating with Surge Medical
to explore the sector for emerging growth opportunities. The
companies’ Surge Medical Solutions venture continues to
leverage Cascade’s expertise in developing and manufacturing
innovative plastics products across multiple industries and
Surge Medical’s strong worldwide sales and distribution
capabilities and growing line of proprietary medical
products. The addition of Chase Medical’s arrested heart
products division will further enhance these combined
capabilities.
“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.”
Surge
Medical Solutions, LLC develops, manufactures and
distributes cardiovascular medical devices and accessories
for heart surgeons worldwide. Surge Medical Solutions was
established by Cascade Engineering (www.cascadeng.com), a
leader in engineered plastics systems for the automotive,
solid waste and industrial markets, and Surge Medical (www.surgemedical.com),
an innovative medical device company focused on the
cardiovascular surgery, emergency services and medical
accessories markets. Both Cascade Engineering and Surge
Medical share a fundamental commitment to advancing
sustainability and community well-being through lean
enterprise and environmental stewardship practices.
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