Phase One Medical, L.L.C., has received an order to provide the distal tip component for a new peripheral and biliary stent delivery system. The announcement comes shortly after the company announced expansion of their medical device business to include small part design and manufacture.
“The U.S. Medical Device market is valued at close to $100 billion,” says Don Woods, a partner of Phase One Medical. “We believe there is a significant opportunity to leverage our existing research and development business to include small part design and manufacturing of specialized medical device components on a contract basis,” he added.
According to Adrian Ravenscroft, a partner of Phase One Medical, the addition of small part tooling and molding to Phase One’s capabilities creates synergy with its existing research and development efforts. As a result of this new order and accelerated R&D activity the company does expect to hire additional employees.