Dallas-based CTL Medical has scooped up a pair of North Texas area medical device companies.
Denton’s RF Precision, LLC. and Dallas’ AccelSPINE are now a part of CTL Medical. Both companies will retain their employees and executives and continue operating under their own brands until the deals receiving blessing from federal regulatory powers. CTL says it plans to double the manufacturing workforce of RF Precision by 2017 and “anticipates a significant increase in workforce” of AccelSPINE by the same time time period.
“AccelSPINE is a leader in our industry, and they have a proven track record of producing exceptional medical products. Acquiring AccelSPINE not only helps advance our global growth strategy, but it also helps us meet the needs of our growing customer base,” said Andy Choi, Chief Business Development Officer of CTL Medical Corporation.
RF Precision sells to buyers in North America and Europe, while AccelSPINE can sell in the U.S., the 28 countries that make up the European Union, and five additional countries that adhere to the EU’s regulations.
“The acquisition of RF Precision, LLC is our first step in establishing a foundation in manufacturing. By bringing manufacturing in-house, it will allow for improved efficiency as we navigate future acquisitions and intended growth” said Daniel Chon, CEO of CTL Medical Corporation.
Chon is the former president and CEO of AccelSPINE. He founded CTL in 2015.