Freudenberg Medical Buys Hemoteq AG

Carpinteria-based Freudenberg Medical, which develops minimally invasive devices for the medical device and pharmaceutical industry, announced this morning that it has acquired the majority of German medical product developer Hemoteq AG. Hemoteq develops surface coating technologies used in medical devices. Financial terms of the buy were not disclosed. Hemoteq said it acquired 75% of Hemoteq from venture backers Earlybird Venture Capital and Pinova Capital. The remainder of Hemoteq is owned by founders Michael Hoffmann and Roland Horres, who will continue to manage the company.