In a recent press release, CTL Medical Corporation, a Dallas, Texas-based medical device manufacturing and service company that manufactures devices for the cervical and thoracic regions of the spine, announced that it has signed an agreement to acquire AccelSPINE. AccelSPINE is a privately-held medical device manufacturing company that develops products for surgeons, including implants and devices for the cervical, thoracic, and lumbar regions of the spine. Additionally, AccelSPINE manufactures specialized custom instruments developed to tailor fit specific needs of the surgeons.
AccelSPINE was established in 2010 by then-president and CEO, Daniel Chon. Mr. Chon founded CTL in 2015. The acquisition is expected to help advance CTL Medical’s global growth strategy and help the company meet the needs of its growing customer base, according to Andy Choi, Chief Business Development Officer of CTL Medical Corporation.
The acquisition of AccelSPINE follows CTL’s recent acquisition of RF Precision, LLC, effective as of January 1, 2016. RF Precision, LLC was founded in 2003 and serves clients in the medical, fiber optic and electronic industries. According to CTL, the acquisition of both RF Precision and AccelSPINE expands CTL’s in-house manufacturing capabilities as well as services to customers in Europe.