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Surge Medical Solutions Acquires Chase Medical Arrested Heart Products Division

 

New Company Accelerates Expansion In Heart Device Arena

GRAND RAPIDS, Michigan, November 2, 2005 – Surge Medical Solutions, LLC announced today that it has acquired the arrested heart products division of Chase Medical, a Richardson, Texas-based manufacturer of products that treat heart failure and coronary artery disease. Surge Medical Solutions was established in March as a joint venture between Cascade Engineering, a leader in engineered plastics systems and components, and Surge Medical, a Holland, Michigan-based developer and distributor of products for the cardiovascular surgery, emergency services and medical accessories markets.

The acquisition of Chase Medical’s arrested heart products division accelerates Surge Medical Solutions’ efforts to provide innovative cardiovascular medical devices and accessories to heart surgeons worldwide. Under the terms of its agreement with Chase Medical, Surge Medical Solutions will acquire a substantial portfolio of cardiovascular surgical tools and accessories, and an extensive network of distribution relationships both domestically and abroad. As part of the acquisition, Chase Medical’s arrested heart manufacturing operations will transfer from Richardson, Texas to the Cascade Engineering campus in Grand Rapids, Michigan. Financial terms of the agreement were not disclosed.

Cascade Engineering initiated a health care market diversification strategy beginning in 2004, collaborating with Surge Medical to explore the sector for emerging growth opportunities. The companies’ Surge Medical Solutions venture continues to leverage Cascade’s expertise in developing and manufacturing innovative plastics products across multiple industries and Surge Medical’s strong worldwide sales and distribution capabilities and growing line of proprietary medical products. The addition of Chase Medical’s arrested heart products division will further enhance these combined capabilities.

“This acquisition is a strategically important leap forward for our company,” said Ron DeVries, president of Surge Medical Solutions. “The addition of Chase Medical’s well-established arrested heart products division will significantly expand our existing product portfolio and new product development capabilities, bolster our sales and distribution channel, and further our mission to improve surgical products and enhance patient outcomes.”

Surge Medical Solutions, LLC develops, manufactures and distributes cardiovascular medical devices and accessories for heart surgeons worldwide. Surge Medical Solutions was established by Cascade Engineering (www.cascadeng.com), a leader in engineered plastics systems for the automotive, solid waste and industrial markets, and Surge Medical (www.surgemedical.com), an innovative medical device company focused on the cardiovascular surgery, emergency services and medical accessories markets. Both Cascade Engineering and Surge Medical share a fundamental commitment to advancing sustainability and community well-being through lean enterprise and environmental stewardship practices.


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