Kidd & Co’s NexPhase Medical Devices acquires Proven Process Medical Devices

The acquisition aligns with its strategy of creating a leading contract manufacturer focused exclusively on the medical device industry.

Kidd & Co-backed NexPhase Medical Devices has acquired Proven Process Medical Devices. The deal expands the platform’s expertise in R&D, engineering, design and manufacturing of FDA Class II and III therapeutic and diagnostic devices.

PRESS RELEASE

WALDWICK, N.J., May 26, 2021 – NextPhase Medical Devices LLC, a provider of electronic manufacturing services (EMS) and single-use disposable devices to leading medical device OEMs, announced the acquisition of Proven Process Medical Devices Inc.

Located in Mansfield, Massachusetts, Proven Process expands NextPhase’s expertise in R&D, engineering, design and manufacturing of FDA Class II and III therapeutic and diagnostic devices. Proven Process’ areas of expertise include implantables, hand-held devices, combination devices, wearable devices and electro-mechanical capital equipment. Proven Process also adds a New England EMS Center of Excellence to NextPhase’s manufacturing locations in New Jersey, New Hampshire and Mexico. NextPhase is a portfolio company of Kidd & Company, LLC (“KCO”), a private investment firm located in Old Greenwich, CT.

“The acquisition of Proven Process extends our technology platform and strengthens our capabilities to help our customers navigate medical device challenges,” said NextPhase CEO Carlo Colesanti. “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.”

Kenneth Heuer, Kidd & Company Principal and NextPhase Board member added, “NextPhase’s acquisition of Proven Process is another step in our strategy of creating a leading contract manufacturer focused exclusively on the medical device industry.  The combination of NextPhase and Proven Process allows the Company to get involved with customers earlier in the concept, design and engineering phases of new projects in complement with its already established expertise in the manufacture of capital equipment and single-use disposables for medical device OEMs.  Additionally, we have diversified our customer base while gaining access to new market segments and areas of expertise. We welcome all of the Proven Process employees to the newly combined team.”

Kenneth Fine, president of Proven Process, said, “Joining NextPhase will give our customers access to a world-class, Lean-focused organization with manufacturing capacity and scale. This will also help us to quickly expand our capabilities to better serve our customers. Our shared desire to engineer and manufacture some of the world’s most innovative medical devices that address unmet patient needs makes this a very exciting time for our two companies and for our employees and customers.”

About NextPhase Medical Devices

NextPhase is a design, development and manufacturing partner that helps OEMs bring low- to medium-volume complex medical devices to market. Its expertise in electromechanical and single-use devices, combined with its skill in Lean manufacturing, helps it bring customer requirements to life. With an emphasis on its Core Values of customer priority, shop floor focus, teamwork, agility, accountability and continuous improvement, NextPhase has grown to become one of North America’s premier specialist outsourced manufacturers of medical devices. Learn more at www.nextphasemed.com.

About Proven Process Medical Devices

Proven Process is a medical device design, development and manufacturing services firm established by a tight-knit team in 1994 that envisioned a better way to serve the needs of medical device and healthcare brands and then set out to create it. More than two decades later, the company’s original vision has been realized, and is trusted by many of the medical device industry’s finest organizations. Proven Process’ extensive experience includes implantable, interventional, diagnostic and minimally invasive surgical devices. Learn more at www.provenprocess.com.

About Kidd & Company

Based in Old Greenwich, CT, KCO traces its roots to 1976 when William Kidd made his first private equity investment. Today, KCO is the private investment arm of the Kidd Family Office engaged in sponsoring private equity transactions in the lower middle market. The firm’s focus is on driving superior returns by implementing fundamental strategic and operational improvements to drive above-market growth in revenue and earnings, both organically and through accretive acquisitions. The diverse skill set of its partners allows KCO to bring management, operational, sales and marketing, corporate finance and M&A expertise to bear to substantially increase the total value of its investments. For more information, visit www.kiddcompany.com.