Resonetics Announces Acquisition of STI Laser
Resonetics announced today that it has acquired STI Laser Industries, Ltd. ("STI"), a leading supplier of laser processing for the medical device industry. In addition to servicing the prolific startup community in Israel, STI has developed a global business with extensive customer relationships in the U.S., Japan, China and Korea. Since being founded in 1998 by Tovy Sivan, President & CEO, STI has grown rapidly by identifying the customer needs and responding aggressively with customized solutions.
STI Laser Industries Ltd. is an original equipment manufacturer (OEM) specializing in laser cutting and finishing of miniature metal components. The company which based in Or Akiva-Israel provides a comprehensive manufacturing platform for medical, bio-engineering and hi-tech companies focuses on manufacturing medical devices for implants and surgical instruments for surgical procedures Minimally invasive (MIS).
"Israel is recognized around the world as an important medical device center and we are very excited to gain access to these customers with STI. Tovy's entrepreneurial spirit and the strong management team he assembled have created an impressive business serving the structural heart, neurovascular and minimally invasive surgery markets. The acquisition also broadens Resonetics' nitinol processing capabilities, an important capability to serve our growing interventional business," said Tom Burns, President and CEO, Resonetics.
"I am very proud of the position STI has built in the industry over the last 20 years," says Toby Sivan. "By joining forces with Resonetics, we can offer our customers a wider range of manufacturing capabilities with the resources needed to support optimization and mass use in Israel, the US, Europe and Costa Rica a growing list of industry leaders".