Key Surgical LLC, an Eden Prairie-based provider of sterile processing and operating room supplies, has acquired German medical device wholesale supplier Insitumed GmbH. Financial terms of the deal were not disclosed.
The deal is aimed at expanding Key Surgical’s global reach and portfolio of endoscopy products.
"Insitumed is highly regarded for its innovative customer-centric product development and its strong relationships with hospital-based endoscopy departments and office-based practices,” said JV Wulf, Key Surgical Europe president, in a statement. “Bringing our companies together marks another exciting step forward for Key Surgical.”
The Insitumed acquisition marks Key Surgical’s latest expansion effort. Two years ago, the Minnesota company merged with another German business—its competitor Interlock Medizintechnik GmbH—forming the world’s largest supplier of healthcare sterilization products.
Since then, Key Surgical, which retained its headquarters and key leadership after the merge, continued to grow. It now serves more than 10,000 hospitals and surgical centers across 70 countries. The company’s portfolio includes items for procedures, cleaning, and sterilization. With Insitumed, the endoscopy-focused portion is slated to grow.
"We're pleased to be joining with Key Surgical,” said Wolfgang Drews, Insitumed managing director, in a press release. “Our product offerings are very complementary.”
He adds that like Key Surgical, Insitumed, too, will gain new geographic markets, thanks to the acquisition.