Morgan Hill-based Paramit Corporation announced this week that it has acquired Emphysys, Inc., a leading technology development firm specializing in complex systems and products for the medical device, life sciences and industrial equipment industries.
Combined with Paramit’s product design and manufacturing expertise, Emphysys will support the front end of the leading healthcare product realization solution that Paramit delivers for its customers, reads a press release about the acquisition.
Based in Silicon Valley with operations in the U.S., Europe, and Malaysia, Paramit develops and manufactures medical devices and life science instruments for its industry-leading customers. Emphysys, founded in 2009 and located just north of Boston, Mass., specializes in power electronics, RF and microwave, embedded control systems, medical handpieces and consoles, motion control and thermo-fluid systems.
“We are excited about what this new partnership will mean for our customers going forward,” said Billoo Rataul, CEO of Paramit. “The work being done at Emphysys routinely pushes the boundaries of science, technology and innovation. Our customers value time to market and strong IP while working with partners that can deliver complete long-term solutions. Paramit, further enhanced by the addition of Emphysys, will continue to be that unique partner for our customers.”
Ali Shajii, CEO of Emphysys, commented, “As part of the Paramit team, Emphysys will now offer complete end-to-end ‘transferless’ development services, spanning new technology invention through product development and into full scale, commercial manufacturing. In addition to augmenting Paramit’s existing product development capabilities with deep expertise in technology development, Emphysys will provide a strong Boston-area presence to better serve and help drive growth with Paramit’s customers in the medical device and life sciences markets. We are happy to be joining a global team with a commitment to excellence and look forward to continuing our success and growth together.”
Schiff Hardin LLP acted as legal counsel for Paramit, says the press release. Canaccord Genuity acted as exclusive investment banking advisor to Emphysys, and Morse, Barnes-Brown & Pendleton, PC acted as legal counsel to Emphysys.
