Roseville, MN, June 15, 2020 – Catheter and Medical Design, Inc. (“CMD”) announced today it has completed majority investment by Inverness Graham Investments, Inc. (“Inverness”), a suburban Philadelphia-based private investment firm. CMD develops and manufactures complex catheters and catheter shafts for a broad range of interventional and endosurgical applications. CMD provides exceptional service to global medical device manufacturers with an emphasis on rapid turnaround of prototype-to-production and complex designs requiring niche medical expertise.
The founders of CMD were attracted to Inverness’ operating resources and expertise in the medical device component manufacturing space, past successes with growing similar businesses, and their vision to create a sophisticated, industry-leading catheter and sub-assembly platform. In conjunction with the transaction, Inverness has named current President and industry veteran, Lucian Bejinariu, as the platform’s CEO.
“I am very excited about partnering with Inverness Graham to continue the tremendous growth CMD has experienced and to leverage the additional financial and operating resources Inverness has to offer,” stated Lucian Bejinariu, the President and CEO of CMD. “We look forward to the continued expansion of our platform and the ability to offer more complex solutions and capabilities to our customers.”
“The decision to proceed with this venture is positive,” said Choua Yang, senior executive and owner of CMD. “We believe Inverness Graham is a strong fit for CMD, as we have confidence they will bring additional value to our employees, customers, and vendors. CMD will continue to offer quality service to fit our customers custom needs.”
Aliya Khaydarova, Managing Principal of Inverness Graham, stated “we are excited to invest in another medical device outsourced manufacturing business and believe CMD is an attractive platform, offering a compelling value proposition to a global, blue-chip customer base. As medical device companies continue to outsource their complex design and manufacturing needs, we expect CMD to become an increasingly important strategic partner. We look forward to leveraging our industry expertise and robust network to build upon CMD’s impressive performance and will look to drive growth both organically and through strategic acquisitions, while also looking to enhance their in-house capabilities and expand geographic reach.”
About Inverness Graham Investments
Headquartered in Newtown Square, PA, Inverness Graham is an operationally focused private investment firm that has raised ~$1 Billion of assets. Inverness Graham acquires innovative tech-enabled manufacturing, service and software companies. Our approach is as unique as our heritage. Founded by senior executives of the Graham Group, a family owned multi-national industrial concern, we bring unparalleled resources developed over a 50-year operating history to support our portfolio companies. Inverness Graham partners with businesses to provide the financial and operational support necessary to accelerate growth while enabling owners to achieve their key liquidity objectives.