Since its founding in 2012, Tyber Medical has experienced record growth with its continually expanding product portfolio. In support of its rapid growth, Tyber implemented a vertical integration strategy, in 2019, that included a large-scale expansion of its headquarters located in the Lehigh Valley in Pennsylvania. As Tyber Medical continues to expand its customer base and product portfolio, which includes private label orthopedic implants for the trauma, extremity and spine markets, it will now double its manufacturing capacity upon purchasing all the assets of CatapultMD, based in Bonita Springs, Florida.
Tyber Medical's acquisition of CatapultMD is expected to close before the end of the year.
Once the acquisition is complete, Tyber Medical will own and operate a combined 100,000 square feet of manufacturing space between its Pennsylvania headquarters and Florida-based facilities. The acquisition will expand Tyber Medical's machining footprint to include over 40 CNC Swiss machines and 10 5-axis CNC mills for manufacturing plates, screws, spinal implants and instrumentation used in orthopedic surgery.
With the receipt of two FDA 510(k) clearances for its anatomical plating systems in the last year, Tyber Medical now offers its most comprehensive portfolio of products, since its founding in 2012.
"We've been on a significant growth trajectory fueled by our expert research and development team, outstanding engineering capability, and our recent FDA clearances," said Tyber Medical Chief Executive Officer Jeff Tyber. "Our acquisition of CatapultMD's top-of-the-line CNC automation and inspection capabilities seamlessly aligns with our strict MDSAP and ISO 13485 quality standards and enables us to meet and exceed our growing demand by instantaneously doubling our internal manufacturing and processing capacity."
The CatapultMD transaction is expected to add up to 24 team members to Tyber's current workforce of 120, including the co-founders of CatapultMD, Len and Oliver Zaiser. Len Zaiser is well-known through the founding of Structure Medical and well-respected for his unique engineering talent and creativity in using state-of-the-art precision machine tools and equipment to ensure that the most complicated designs meet the highest quality standards.
"On behalf of the CatapultMD team, we are pleased that Tyber Medical will be the new owner of this business, enabling it to further flourish for the benefit of our customers and beyond," said CatapultMD President and founder Oliver Zaiser.
The acquisition gives Tyber Medical access to the diverse customers that CatapultMD currently serves. "We are very excited to serve these medical device companies and welcome them into our Tyber Medical customer family," said Tyber. "Our business is based on filling gaps in our customers' product portfolios by bringing FDA-cleared, MDR-compliant, and CE-approved medical devices to market for them in less than 12 months. Our acquisition of CatapultMD will help us ensure that our integrated supply chain will continue to meet our critical speed to market metric."
Source: Tyber Medical