Cambus Medical completes Shareholder transaction with Helix Medical, a Freudenberg Group Company

28th January 2013

Cambus Medical, a Galway, Ireland based medical technology company, today announced that it has recently completed it’s proposed shareholder transaction with Helix Medical, a global manufacturer for the medical device and healthcare industries. This proposed deal was initially announced in August 2012 to be completed by January 2013.

As part of the deal completion Helix Medical, a wholly owned Subsidiary of the Fruendenburg Group of Germany, exercised it’s options to acquire up to 50% of the ordinary share capital of the company. This transaction includes a significant investment directly in the company and the acquisition of the share capital from the Western Development Commission and the AIB Seed Capital Fund Limited Partnership (managed by Enterprise Equity Venture Capital Group).

Helix Medical as a significant shareholder and partner under the terms of the agreement will continue to assist Cambus Medical in driving its exceptional growth levels and to continue to provide best in class solutions and service to its highly innovative customer base. Cambus Medical plans to continue its drive to increase its footprint within the medical technology sector through this partnership with Helix Medical. Barry Comerford CEO of Cambus Medical comments “our new partnership with Helix Medical is one based on growth through continued investment, sharing of technical expertise and global resources in capitalising on the massive market potential available to our combined companies”.

Dr. Jorg Schneewind, President and CEO of Helix Medical said “With its industry-leading technology and experienced management team, Cambus Medical is ideally positioned to serve the fast-growing market for high precision catheter components. Cambus adds another key technology component to our portfolio which in addition to our acquisition of MedVenture Technology Corporation in October 2012 provides a perfect strategic fit and the key role Cambus Medical will play in this portfolio becomes even more obvious as we continue to deliver on our long-term strategy to build a comprehensive global organization that serves as a strategic partner to global medical device manufacturers”.

“Cambus Medical is one of a growing number of indigenous MedTech companies that the Western Development Commission has supported that is putting the West of Ireland on the map as a global Centre of Excellence for the MedTech sector. The Western Region’s innovative entrepreneurs and talented workforce combined with the support of dedicated investment funds like the Western Investment Fund is a dynamic combination creating successful world class enterprises and high quality jobs,” said Gillian Buckley, Investment Manager of the Western Development Commission.

“AIB Seed Capital Fund was pleased to have the opportunity to support the growth of Cambus Medical over the past three and half years and to work with such an excellent management team. With the recent investment by Helix Medical we feel Cambus Medical can look forward to a very bright future and we wish all concerned every success,” said Rory Hynes, Partner at Enterprise Equity Venture Capital Group, Managers of the AIB Seed Capital Fund Limited Partnership.

Established in 2006, Cambus Medical develops, designs, and manufactures critical components for minimally invasive medical devices used in diagnostic and therapeutic interventions, mainly high-precision hypotubes and micro-component solutions for advanced catheter systems.

Helix Medical is a global custom manufacturer for the medical device and healthcare industries with seven manufacturing operations worldwide. Helix Medical is part of the Freudenberg Group, which employs over 37,000 people in 58 countries.