Press Release: Ximedica Acquires Accel Biotech
Jul 14, 2016
Ximedica acquires Accel Biotech; Creates an Enhanced Offering for Life Science and Biomedical Instrument Product Development and Manufacturing Solutions
PROVIDENCE, RI & LOS GATOS, CA (July 14, 2016) – XIMEDICA, a leading full service medical technologies development firm today announced that it has acquired Accel Biotech. Accel Biotech, based in Los Gatos, CA, expands Ximedica’s design and development offering into the In vitro Diagnostics, Life Science Laboratory Instruments and Disposables. The acquisition also expands Ximedica’s West Coast presence complementing last year’s addition of Bridge Design in San Francisco.
“The acquisition of Accel Biotech deepens the capability, reach and scale of Ximedica’s comprehensive development offering into key IVD and Life Science growth segments within the industry that as a firm focused solely on medical technology we knew we had to pursue” says Randall S. Barko, Ximedica’s President and Chief Executive Officer.
“Ximedica brings the regulated systems, procedures, discipline and expertise to complement and enhance Accel Biotech’s wide range of complex technologies including optics, various detection methods, motion control/robotics, fluid management and consumables/cartridges. These combined strengths will bring high value to our clients, offering a risk averse and cost effective development approach and a depth of expertise second to none.”
Says Bruce Richardson, Founder of Accel, “Our ethos has always been about consistently beating time-to-market expectations and innovation. Ximedica’s vertically integrated processes and similar customer satisfaction values are a natural match.”
“This is about two organizations combining complementary resources and establishing a coast-to-coast offering for the design and development of Life Science and In Vitro Diagnostics (IVD) product technologies. By joining forces with Ximedica, we will be able to respond to an increasing demand from our client base for a more comprehensive offering.”
Accel Biotech, a Ximedica Company, will continue operating out of its existing Silicon Valley facility and will now have an East Coast presence servicing existing customers and drawing on the resources of Ximedica to expand offerings with existing clients and developing new relationships with key Fortune 100 Medical Technology clients. Adds Barko, “About two years ago we became a SV Life Sciences portfolio company and embarked on the next phase of our global growth strategy. The acquisition of Bridge Design last year and now Accel Biotech moves us even further along that path.”
Meet with Accel Biotech, a Ximedica company on Aug 2-4 at the 68th AACC Annual Scientific Meeting & Clinical Lab Expo.
Ximedica is a full-service ISO 13485-certified and FDA-registered product development firm. For 30 years Ximedica has provided a unique growth platform enabling organizations to successfully deploy medical technology products into the market. Its headquarters are in Providence, R.I., with offices in Hong Kong, Minneapolis, San Francisco and Los Gatos. In November of 2014, SV Life Sciences, a Boston-based private equity firm, acquired a majority stake in Ximedica, enabling the company to execute its growth strategy. www.ximedica.com
About Accel Biotech
Our mission at Accel Biotech, based in Los Gatos, CA, is to pair our unique breadth of engineering and design experience in diagnostics, life sciences and disposables with a passion for quick development. We enable rapid prototyping with in-house machining, 3D printing and full production runs for complex devices. We value customer satisfaction above all else, seeking long-lasting relationships with our clients. www.accelbiotech.com