Veranex, a global, tech-enabled service provider dedicated to the medical technology industry, has this week announced the acquisition of Worrell, further expanding its offerings and geographic reach. Veranex delivers compelling strategic, operational, and financial benefits by combining the skills and expertise needed for developing breakthrough medical technologies from concept to commercialization. Veranex is the product of six complementary acquisitions backed by growth investor Summit Partners: Ximedica, Quartesian, Boston Healthcare Associates, Experien Group, IMM Recherche, and now Worrell.
“The addition of Worrell strengthens Veranex’ offerings as the leading global provider in the medical device and biotech space. By enhancing our human-centered design capabilities with a focus on Phase 0 strategy, design conceptualization, and human factors services, we complement our existing ISO-certified Phase 1-4 engineering and pilot-scale manufacturing capabilities,” said Veranex Executive Chairman Patrick Donnelly. “We’re thrilled to welcome the employees of Worrell to Veranex,” added CEO David Dockhorn. “Kai Worrell joins Veranex as President of our product development and engineering business unit, with locations in Minneapolis, Providence, the San Francisco Bay Area, London, and Shanghai.”
“Worrell’s integration into Veranex comes at a perfect moment,” added Kai Worrell. “As medical device and biotech leaders around the world fuel their R&D pipelines, they need world class partners now more than ever. Adding Worrell’s 46 years of design expertise to the Veranex industry powerhouse will create new opportunities for improving global health outcomes.”
Technology Holdings served as financial advisors to Worrell for this transaction, and Saul, Ewing, Arnstein & Lehr LLP served as their legal counsel. McGuire Woods served as legal counsel to Veranex. Financial terms of the transaction were not disclosed.
Veranex has offices on four continents staffed by top designers and engineers as well as market access, regulatory, quality, and clinical experts providing support for full-scope MedTech development that includes:
- Product Design and Engineering
- Medical Device Evaluation Services
- Clinical Development Services
- Data Management and Analytics
- Regulatory Affairs and Quality Management
- Commercial Strategy and Market Access
Veranex also brings deep experience in a variety of clinical areas including cardiovascular disease, women’s health, oncology, and ophthalmology, and expertise across a range of technologies, from screening tests to therapeutic implants and monitoring devices.