Averra Holdings, a portfolio company of Banner Capital, is pleased to announce a partnership with ZIEN Medical Technologies.
Founded in 2009 and based in Salt Lake City, ZIEN is a vertically integrated medical device contract design & manufacturing organization providing product design & development, manufacturing, cost-down, packaging, sterilization, and quality & regulatory services to medical device companies. As part of Averra, ZIEN’s capabilities will be enhanced to include turnkey packaging design and manufacturing services. ZIEN and Averra’s clients will benefit from the combined services and long-term commitment to the medical device ecosystem.
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Ron Labrum, Chairman of Averra, stated “We are pleased to partner with Tim and the ZIEN team. We believe the organization is a fantastic complement to Averra Packaging. ZIEN’s differentiated approach to design, manufacturing, and expedited product launches naturally positions it as the top choice for OEMs looking to get innovative products to market quickly – domestically or internationally. Their unique positioning alleviates the regulatory and quality burden on clients, reduces cost and accelerates speed-to-market.”
Tim Nieman, who will continue as CEO of ZIEN, remarked “ZIEN has been a long-time, trusted partner to our clients and we pride ourselves on providing outstanding CDMO, quality, and regulatory services for our customers. The partnership with Averra and Banner Capital will enable us to scale our operations to meet the demands of our clients and continue to provide the high-quality services and global marketing reach expected by our customer base. Our team is eager to integrate and grow our impact; we could not be more excited to welcome them as partners.”
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Jeremy Horton, CEO of Averra Packaging, stated “we are thrilled to welcome ZIEN and their employees to the Averra family. The partnership with ZIEN demonstrates Averra’s commitment to the medical device space and supports our mission to be a full-service provider of products and services to the industry. The combination of Averra and ZIEN creates an enterprise that is greater than the sum of its parts, and we are thrilled to be moving forward together.”
Thomas Busby, Director at Outcome Capital, commented “ZIEN and Averra have tremendous tailwinds with renewed interest in domestic manufacturing, high demand for vertically integrated services, and a tailored platform for medtech companies to turn to. This is a win not only for ZIEN and Averra but for the medtech community.”
Averra was advised by McGuireWoods LLP, while ZIEN received strategic and financial advisory services from Outcome Capital LLC and legal counsel from McDonald Hopkins LLC.
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Source – PR Newswire
