WARWICK – Biomedical Structures, a manufacturer of biomedical textiles for medical devices and other clinical applications, announced the acquisition of Concordia Medical LLC on Tuesday.
Concordia Medical, a division of Concordia Manufacturing LLC located at 60 Commerce Way in Warwick, provides medical implant technology utilizing biomaterials for tissue engineering and regenerative medicine.
The companies did not disclose the financial terms of the agreement; Concordia will retain an ownership stake in Biomedical but did not specify how much.
Biomedical highlighted that Concordia Medical’s textile expertise and volume manufacturing capabilities will expand its reach in the fields of orthopedics and regenerative medicine.
“The combination of BMS’ established business and Concordia Medical’s innovation in this space will strengthen the company’s regenerative device capabilities, particularly through the addition of Concordia’s non-woven BIOFELT technology, which is currently utilized in several clinical applications in cardiovascular, dental, and urological surgery that require natural tissue growth,” a news release said.
BMS will add Concordia’s work force and compound to its manufacturing base. Concordia Manufacturing CEO and President Randal Spencer will join BMS’ board of directors and assist in business development.
