Resonetics began a deal to acquire Memry Corporation and SAES Smart Materials from SAES Getters S.p.A. Both businesses are based in the U.S. and the transaction is valued at $900 million.
 
“The SAES Medical Nitinol business is a leading supplier to the medical device industry with a broad set of capabilities focused 100% on nitinol, a novel superelastic, shape-memory alloy that is enabling many technological advances in a growing array of therapeutic areas including structural heart, peripheral vascular, electrophysiology, neurovascular, and orthopedics,” Tom Burns, president and CEO of Resonetics told the press. “Upon completion of the deal, Resonetics will have the supply and scale to better address the growing customer needs for nitinol material, components, and implants. We will continue to provide a high level of service to all our customers, including contract manufacturers who serve the medical device industry. We look forward to offering customers enhanced options and products as a result of this transaction, and to working with the 550 employees at SAES Medical Nitinol that will be joining our team once the acquisition closes.”
 
“We are excited to support the Resonetics management team as it executes on a high growth strategy to bolster its platform of differentiated capabilities to better serve customers,” Robert Schmidt, a Managing Director specializing in healthcare at investment firm Carlyle, which backs Resonetics. “We believe Resonetics and the SAES Medical Nitinol business are highly complementary to each other and this combination, in our view, will result in an even stronger service offering to large medical technology companies across the world.”
 
Resonetics already operates nitinol centers of excellence in SanDiego, Calif. and Or Akiva, Israel with focus on laser cutting, braiding, shape setting, and electropolishing. The company also has centerless grinding of nitinol wire with operations in Blaine, Minn. and Alajuela, Costa Rica.
 
Memry adds extensive electric discharge machining (EDM) capabilities, as well as further laser processing, centerless grinding, nitinol tubing, sheet, and wire fabrication. SAES Smart Materials creates nitinol raw material from nickel and titanium raw material and converts it into various form factors.
 
The deal is expected to close in 2023. Until then, each company will continue to operate independently.