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Medtech Design Bureau Worrell Picked Up by Veranex

Image: Veranex Pat Donnelly
Patrick Donnelly, Executive Chairperson, Veranex
The sixth acquisition this year by the private-equity-backed firm expands Veranex's portfolio of services to medical device OEMs and its global reach.

Raleigh, NC–based Veranex has added another arrow to its quiver of contract medtech services with the acquisition this week of Worrell, a global design firm specialized in healthcare products. The Minneapolis-based firm joins Ximedica, Quartesian, Boston Healthcare Associates, Experien Group, and IMM Recherche in the Veranex portfolio, backed by investment firm Summit Partners.

“The addition of Worrell strengthens Veranex’s offerings as the leading global provider in the medical device and biotech space,” said Executive Chairperson Patrick Donnelly in a prepared statement. “By enhancing our human-centered design capabilities with a focus on Phase 0 strategy, design conceptualization, and human factors services, we complement our existing ISO-certified Phase 1 to 4 engineering and pilot-scale manufacturing capabilities,” explained Donnelly.

Worrell president Kai Worrell will join Veranex as president of its product development and engineering business.

The integration into Veranex is perfectly timed, said Worrell. “As medical device and biotech leaders around the world fuel their R&D pipelines, they need world-class partners now more than ever. Adding Worrell’s 46 years of design expertise to the Veranex industry powerhouse will create new opportunities for improving global health outcomes.”

In addition to its Minneapolis headquarters, Worrell has facilities in Shanghai and London.

Founded in 2020, Veranex currently has facilities and offices throughout the United States and in France, Germany, the United Kingdom, Ukraine, China, and India. In June 2021, private equity firm Summit Partners acquired Boston Healthcare Associates, Ximedica, and Quartesian and rolled them into Veranex. The acquisition of Worrell was preceded by Experian Group in July 2021 and IMM Recherche in October 2021. The company’s end-to-end services include product design and engineering; clinical development; data management; regulatory affairs and quality management; and commercial strategy and market access.

TAGS: M&A Business
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