Resonetics Completes Acquisition of Memry and SAES Smart Materials

Advances nitinol material and processing capabilities, providing medical device customers with a comprehensive suite of solutions

NASHUA, N.H., Oct. 2, 2023 /PRNewswire/ -- Resonetics announced today that it has completed the previously announced acquisition of Memry Corporation and SAES Smart Materials, Inc. from SAES Getters S.p.A., Milan, Italy. Memry Corporation and Smart Materials are recognized leaders in the nitinol supply chain for the medical device industry with operations in Bethel, Connecticut, New Hartford, New York, and Menlo Park, California. Both companies will be rebranded as Resonetics.

"Memry and SAES Smart Materials have built a legacy as critical suppliers of nitinol mill products, semi-finished materials, and complex components and implants to the medical device industry," said Kevin Kelly, President and CEO of Resonetics. "Nitinol is a key growth driver for Resonetics, and we're excited to expand upon our existing nitinol processing capabilities with these acquisitions so that we can provide a more complete and cost-effective nitinol solution. We believe that further investment in both businesses will allow us to expand our capacity and capabilities so that we can better serve the needs of our customers and build upon their strong market potential."

"Resonetics establishes technology expertise in key areas and supports customers with quick turn prototyping and process development through our network of Lightspeed Labs," said Kevin Hartke, Chief Technology Officer at Resonetics. "The addition of Memry and SAES Smart Materials adds important nitinol material knowledge and proficiency in melt to component manufacturing. We will implement our Lightspeed Lab franchise model and establish a new lab at the Bethel, Connecticut facility with dedicated engineers and equipment to help customers reduce time to market with faster prototyping and direct collaboration with our engineers."

With three facilities in the United States and a workforce of approximately 600 employees, Memry and Smart Materials will advance Resonetics' position in the nitinol material conversion market for new and emerging medical device technologies across some of the most dynamic market applications in the industry. The Memry business will add extensive electric discharge machining capabilities, additional laser processing, centerless grinding, and nitinol tubing, sheet, and wire fabrication. The Smart Materials business creates nitinol material from nickel and titanium and converts it into various form factors.

Nitinol is enabling many technological advances in a growing array of therapeutic areas including structural heart, peripheral vascular, electrophysiology, neurovascular, and orthopedics. Resonetics has existing nitinol centers of excellence in San Diego, California, and Or Akiva, Israel with a focus on laser cutting, laser welding, braiding, shape setting, and electropolishing. In addition, Resonetics is a leader in centerless grinding of nitinol wire with operations in Blaine, Minnesota and Alajuela, Costa Rica.

About Resonetics

Founded in 1987, Resonetics is a pioneer in advanced engineering, product development, prototyping, and manufacturing solutions for the life sciences industry. Resonetics is a leader in laser processing, nitinol processing, centerless grinding, thin-wall stainless steel & precious metal tubing, photochemical machining, microfluidics, sensor solutions, and medical power. With strategically located AGILE Product Development centers and Lightspeed Labs, Resonetics is committed to quality, speed, innovation, and a great customer experience. The company is ISO 13485:2016 certified with 17 facilities and more than 2,600 associates in the United States, Canada, Costa Rica, Israel, and Switzerland. Resonetics is backed by leading private equity firms Carlyle and GTCR. Learn more at www.resonetics.com.

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SOURCE Resonetics