Alvimedica Purchased In-Vivo
The R&D center located in New York is being transferred to Catalca. Alvimedica is moving forward to become one of the most important R&D bases in the world for heart stents.
The Turkish company, Alvimedica, which is amongst one of the best companies in heart stent manufacturing, became an important player on the world stage by purchasing an American medical device company, In-Vivo. Following the finalization of the purchase, the production facilities of In-Vivo, currently located in the United States, will be transferred to Alvimedica’s factory in Catalca. With this initiative Turkey will become an acknowledged R&D base for stent manufacturing.
Alvimedica was founded in Denmark with a100% Turkish capital and has been pursuing its activities in Turkey since 2007. The company has enabled Turkey to become one of the most important players in interventional cardiology applications in the world.
In-Vivo, which has been producing diagnostic and guiding catheters in New York for the last twenty years, manufactured products for Jomed and Abbott - which are the biggest players in the cardiology field in the world. By purchasing In-Vivo, Alvimedica expanded its product portfolio and product range, hence increasing its claim.
Mr. Bozkurt made a statement regarding the purchase as follows; “There are five big companies producing catheters and coronary heart stents –which are the products also available in Alvimedica’s product portfolio- in the world. Four of them are US-based and the other one is located in Germany. Alvimedica aims to be amongst those big companies with the investments planned in the next five years. For this purpose, it does not only enhance its R&D resources to develop its own product range but it also purchases companies and products that are considered to be suitable. Alvimedica will increase its growth pace with the ongoing 3rd party purchasing negotiations. Also development projects for nearly 20 products are still being carried out in cooperation with various universities.”
Pete Laroque, CEO of In-Vivo, indicated that they produced products for Jomed and Abbott up until today and they realized all the technical developments in their catheters with their 20 years of experience. Mr. Laroque said; “Alvimedica made an offer and we decided that it was going to be more beneficial to utilize our products and technical knowledge within Alvimedica rather than continuing on our own. We have been impressed with - especially - the development strategy of Alvimedica and noticed that the technology utilized in its new factory is very advanced. We are certain that Alvimedica will be amongst the best in the world.”