Adding laser cutting and nitinol processing, Resonetics buys STI
STI supplies laser cutting, nitinol shape setting and electropolishing, and cleanroom assembly and packaging.
Resonetics (Nashua, NH) has acquired STI Laser Industries (STI; Or Akiva, Israel), which supplies laser cutting, nitinol shape setting and electropolishing, and cleanroom assembly and packaging for the medical device industry. Founded in 1998 by Tovy Sivan, president and CEO, STI has developed a global business with extensive customer relationships in the U.S., Japan, China, and Korea.
"Israel is recognized around the world as an important medical device center and we are very excited to gain access to these customers with STI. Tovy's entrepreneurial spirit and the strong management team he assembled have created an impressive business serving the structural heart, neurovascular, and minimally invasive surgery markets. The acquisition also broadens Resonetics' nitinol processing capabilities, an important capability to serve our growing interventional business," says Tom Burns, president and CEO of Resonetics.
STI is doubling the size of its operations in Or Akiva, 40 minutes north of Tel Aviv. Building 2 is under construction and will open in early 2020 to increase the Israel operation to 60,000 sq. ft. to accommodate the company's growth and new manufacturing capabilities.
For more information, please visit www.resonetics.com.