Raleigh medtech startup Veranex buys another company – this time in California

RALEIGH – Raleigh-headquartered Veranex, a startup focusing on medtech services, has bought yet another company, adding to its acquisitions made in the last few years.

Veranex purchased the California-based Fusion Biotec, a design and engineering company.

Along with the acquisition comes Fusion’s 15,000-square-foot facility in Orange, California, and more than 45 employees who serve medical device and life sciences clients in the Southern California life sciences market.

Now, along with other recent Veranex-acquired companies, the combined entity can provide product design engineering services across the United States and the globe, a company statement noted.

“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 in a statement.  “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.”

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.

Raleigh startup medtech services firm Veranex continues acquisition binge

Company continues its expansion

“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 in a statement. “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.”

The company, which launched in 2021 as Veranex combined with the global investment firm Summit Partners, bought a Swiss firm in October and purchased multiple Swedish firms, as well.

After those purchases, Veranex switched up its leadership team, with Daulton brought in to the company to serve as its CEO while former CEO David Dockhorn moved to the role of chief operating officer.

Prior to the October acquisitions, Veranex bought six other firms.

Raleigh firm partners with global investor to provide ‘soup-to-nuts’ medtech services

Raleigh-based medical device services startup Veranex shakes up C-suite

The post Raleigh medtech startup Veranex buys another company – this time in California first appeared on WRAL TechWire.

manufacturing
medical
life sciences
diagnostic
device
devices
software
fda