Kidd’s Medical Device Maker Adds-On Again

NextPhase Medical Devices, a portfolio company of Kidd and Company, has acquired Proven Process Medical Devices.

Proven Process designs, develops and manufactures implantable, interventional, diagnostic and minimally invasive surgical devices. The company’s FDA Class II and III devices include balloon catheter inflation devices, catheters, implantable arrhythmia detectors, implantable drug infusion pumps, vascular access ports, and chest drainage devices.

Proven Process, led by President Kenneth Fine, was founded in 1994 and is headquartered southwest of Boston in Mansfield, Massachusetts.

Like Proven Process, NextPhase is a contract manufacturer that designs, develops and manufactures low- to medium-volume medical devices including electromechanical and single-use devices. The company was founded in 1999 and is headquartered in Waldwick, New Jersey with additional manufacturing facilities in New Hampshire and Mexico.

Kidd & Company acquired Nexcore Technologies, in partnership with the company’s founder Milton Frank, in January 2015 and added on to the business with the buy of Phase 2 Medical Device Manufacturing in July 2017 to create NextPhase Medical Devices.

“The acquisition of Proven Process reinforces NextPhase’s growth strategy, extends our technology platform and strengthens our capabilities to help our customers navigate medical device challenges,” said Carlo Colesanti, the CEO of NextPhase. “Proven Process is known for its state-of-the-art engineering and its ability to act with speed to support customers in commercializing their technologies and products.”

Kidd & Company is the private investment arm of the Kidd Family Office and makes control equity investments in the lower middle market. The firm was founded in 1976 by William Kidd and is headquartered in Old Greenwich, Connecticut.

Private Equity Professional | May 28, 2021

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