EL PASO, Texas--(BUSINESS WIRE)--Seisa Medical Inc., a full-service provider of integrated manufacturing and development services to the medical device industry, today announced that it has acquired Bay Area-based businesses ProtoQuick, Inc. and Peridot Corporation. The transactions add considerable expertise to Seisa’s plastics and metals capabilities while also giving the Bay Area companies’ customers the opportunity to leverage Seisa’s global infrastructure for high-volume production of FDA Class II and Class III devices. Peridot founders Patrick Pickerell and Debra van Sickle and ProtoQuick founders Carl Anderson and Ken Staal will remain in their current roles.
“With these acquisitions, Seisa establishes a strong presence in the Bay Area, a hub of innovation in the medical device sector,” said Julio Chiu, founder and CEO of Seisa Medical. “This acquisition demonstrates Seisa’s commitment to investing in vertical capabilities to create end-to-end solutions that deliver value to our customers.”
Peridot Corporation was founded in 1996 by Debra van Sickle and Patrick Pickerell, two manufacturing veterans who grew Peridot into a trusted supplier of complex metals-based components and mechanical assemblies for R&D prototyping and full-scale production across a variety of industries, but with a focus on the medical device industry. In the last 25 years, Peridot grew alongside its customers, many of whom were acquired by top-tier MedTech OEMs.
Patrick Pickerell, President and co-founder of Pleasanton-based Peridot Corporation added, “The synergy created by Peridot’s advanced machining capability coupled with Seisa’s laser tube cutting and high-volume offerings make for a powerful device manufacturing partner for today’s medical device market.”
ProtoQuick was founded in 2009, by Carl Anderson, who previously ran IDEO’s Product Realization Lab. In 2012, Ken Staal, who was also previously at IDEO, merged his company with ProtoQuick and together, they built a business focused on prototype parts by offering machining, mold making and plastic injection molding services.
Carl Anderson and Ken Staal of ProtoQuick added, “(This) gives us the opportunity to give our customers a path from design to prototyping to volume manufacturing.”
The acquisitions of ProtoQuick and Peridot follow Seisa’s 2019 acquisition of Burpee MedSystems, a New Jersey-based expert in the development and manufacturing of implantable stents and delivery devices, with expertise in laser machining, surface finishing, nitinol forming and shaping, and welding.
Seisa funded the Peridot and ProtoQuick transactions through its $50 million credit facility with KeyBank, Wells Fargo, and Bank of the West. Seisa continues to actively pursue prudent and accretive acquisitions that add capabilities and geographic scope.