INDO-MIM acquires medical technology supplier Phoenix DeVentures, rebrands it PDV MedTech
Phoenix DeVentures Inc, Dana Point, California, USA, a provider of product development and turn-key manufacturing services in the MedTech sector, has been acquired by INDO-MIM, Bengaluru, India. Following the acquisition, Phoenix DeVentures will continue operations as PDV MedTech, a wholly owned INDO-MIM subsidiary.
The acquisition is expected to enable the companies to take on a greater variety of projects, providing customers with more tailored solutions. As part of INDO-MIM, PDV MedTech will also have access to a broader global network, expanding its market presence and allowing customers to benefit from a wider range of resources and expertise.
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“The acquisition of PDV MedTech allows us to provide a greater range of services that will increase speed to market, simplify supply chains and provide greater overall value to our customers,” stated Krishna Chivukula Jr, CEO of INDO-MIM. “We share a common goal of helping innovative companies bring new products to market and manufacturing the highest quality medical devices.”
Jeffrey Christian, founder of Phoenix DeVentures, added, “INDO-MIM’s and our shared vision of supporting entrepreneurs in Med Tech and their proven capabilities for scale and quality will be an enormous asset to our customers and enable further expansion in this space.”
“This partnership with INDO-MIM brings unparalleled scale and automation, extending our reach from innovative startups to large enterprises,” said Bryant Grigsby, CEO of Phoenix DeVentures.
Combining Phoenix DeVentures’ twenty-four years of experience transforming napkin sketches into commercialised products with INDO-MIM’s state-of-the-art capabilities is expected to drive groundbreaking advancements in the MedTech industry.
The announcement was made during LSI Dana Point, an event that offers industry executives from emerging companies, venture capital and other capital firms, strategics, and service providers an opportunity to meet.
