Acquisition helps CTL Medical Corporation enhance its Medical Device Manufacturing Practice.
DALLAS (Jan. 26, 2016) Today, CTL Medical Corporation, a Dallas, Texas-based medical device manufacturing and service company, announced it has signed a definitive agreement to acquire AccelSPINE®, a nationally recognized medical device designer and manufacturer headquartered in Dallas. The acquisition went into effect January 25, 2016.
"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.
AccelSPINE is a privately held company that was established in October 2010 by then President & CEO, Daniel Chon. The company chose its Dallas headquarters in March 2011 to leverage strategic business initiatives and has since seen significant growth.
In 2015, AccelSPINE received its CE Marking and EN ISO 13485 certification. This certification allowed AccelSPINE to expand its customer base to the 28 countries that make up the European Union and five additional countries that adhere to European Union regulations.
While CTL Medical Corporation wholly owns AccelSPINE, the AccelSPINE brand will remain intact until the integration is complete and appropriate regulatory measures have been met. CTL Medical Corporation will retain all of AccelSPINE's current employees and executives, and anticipates a significant increase in workforce by early 2017.
About CTL Medical Corporation
CTL Medical Corporation was established in 2015 by Daniel Chon, former President & CEO of AccelSPINE, with the vision of creating a fully integrated, industry leading, global medical device design, development and manufacturing company. CTL Medical Corporation has assembled a world class executive team, bringing together some of the industry's most exceptional talent, further extending their position as a leader in medical device design and manufacturing. For more information, visit http://www.ctlmed.com/.
About AccelSPINE
AccelSPINE® is a nationally recognized medical device company headquartered in Dallas, Texas. The company designs, develops and manufactures spinal implants and instruments tailored to fit the unique needs of surgeons and patients. For more information, visit http://www.accelspine.com/.
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