Advanced polymer technology company Zeus Industrial Products Inc. announced today that it has finalized an agreement to integrate CathX Medical Inc. into its organization. Based in San Jose, CA, CathX is a single-source contract manufacturer that offers medical device OEMs catheter design engineering and assembly services, rapid prototyping, and manufacturing. CathX leadership will continue to manage the San Jose facility, services, and team members under the global leadership of Zeus President and CEO Steve Peterson.
In making the announcement, Zeus stressed that its core business remains component manufacturing across medical and industrial markets. However, the integration with CathX extends the company's capabilities serving medical customers to include contract manufacturing services.
Zeus said that the CathX acquisition significantly increases its strategic value for customers at a time when medical device companies and OEMs face increasing pressure to innovate, solve complex problems, and accelerate time to market.
The integration also provides important advantages for CathX customers, noted Zeus. They stand to benefit from Zeus' extensive R&D facilities, comprehensive product lines, and high-volume manufacturing capabilities across North America and internationally. "With access to greater resources, we can deepen our customer partnerships by offering increased support, stability, and opportunities," said Suresh Sainath, co-founder and President of CathX Medical. "We are excited to expedite plans to expand our team and San Jose facility so that we can continue to collaborate closely with customers in delivering outstanding innovation and customer successes well into the future."
Both companies also pointed to a “cultural alignment” that bodes well for the partnership. "Like Zeus, CathX is very much a 'people-first' company," said Peterson. "We share the same core values across excellence, people, integrity, and creativity, and are delighted to welcome the entire CathX team into our Zeus family." As a family-run business for 55 years, CathX said it was receptive to the family-oriented culture at Zeus and its long-term view. "They look after their people, and I know they'll do the same for our team and our customers," remarked Sainath.