Veranex Acquires Fusion Biotec to Continue Accelerating MedTech Diagnostic Solutions
RALEIGH, N.C.--(BUSINESS WIRE)--Veranex, the only truly comprehensive, global, tech-enabled service provider dedicated to the MedTech industry, announced today that it has acquired Fusion Biotec (Fusion), a design and engineering leader for complex electro-mechanical diagnostic instrumentation and medical devices located in Orange, California. Veranex and Fusion’s combined expertise and specialization in design and engineering, with Veranex’s established infrastructure and expertise for full-scale, rapid development of diagnostic and IVD solutions and Fusion’s ultra-quick concept-to-production model, ensures a continued focus on accelerating the development of diagnostic and medical technology solutions for regulatory and commercial success.
“The COVID pandemic has underscored the need for more affordable and reliable rapid diagnostic testing on a massive scale as well as the need for testing closer to the patient,” said Veranex CEO Tom Daulton. “Fusion’s similar methodologies and expertise fits seamlessly into Veranex’s robust Product Design & Engineering solutions group, which has multifaceted capabilities, including diagnostic devices, IVD, and life science development, regulatory, quality and marketing expertise as well as FDA-regulated manufacturing support — all essential for bringing novel diagnostic technology to the market.”
Fusion’s 15,000-square-foot facility in Orange, California, and 45+ in-house team of engineering experts largely serve medical device and life sciences clients in rapidly developing end-to-end diagnostic instrumentation and help extend reach to the Southern California life sciences market. With Veranex, this creates a footprint for product design engineering services across the U.S., with combined company offices now in the Eastern, Central, and Western regions, as well as market access and regulatory, quality, and clinical expertise throughout Veranex’s global operations.
“In addition to specializations in design and engineering, Fusion also has proprietary software and firmware that gives clients a jump-start in development, building off functional prototypes where a high percentage of the design can use pre-developed technology,” said Fusion CEO Bruce Sargeant. “This means projects are customized but do not need to start from scratch each time; thus, prototypes can be feasible in weeks or months, saving time and money. Veranex has similar strengths, a shared focus on design excellence and above all, both companies value human-centered design — we care about incorporating user needs into elegant and very functional medical devices and are committed to continue developing critical diagnostic solutions.”
Financial details are not being disclosed.
Veranex is the only truly comprehensive, global, tech-enabled service provider dedicated to the MedTech industry. Offering expert guidance from concept to commercialization and across the development continuum, Veranex enables accelerated speed to market, controlled development costs, development risk mitigation, and accelerated market viability assessment. At every stage, Veranex customers realize efficiencies in cost and time, while its comprehensive solutions unify and streamline the entire development process. Veranex is backed by Summit Partners, Accelmed, and Lauxera Capital Partners. For more information, visit VeranexSolutions.com and follow Veranex on LinkedIn.
About Fusion Biotec
Fusion Biotec is a contract engineering and manufacturing firm in Southern California dedicated to the diagnostics and medical device industry. Fusion Biotec brings together art, science and engineering to create world-class medical devices. We provide best-practice processes in the medical industry to the designs that drive commercial success. Our strategy is to create and execute elegant, ingenious and cost-conscious designs. Fusion Biotec is ISO 13485 certified for development and manufacturing, FDA and FDB registered. For more information, visit www.fusion-biotec.com and follow Fusion Biotec on LinkedIn.