The first and only manufacturer of stents and balloons in Turkey, Alvimedica currently operates in more than 40 countries. The company, formed with 100% Turkish investments, has six years’ experience in the industry. With its recent merger with CID, a company whose in-depth expertise and effective R&D have given it a distinctive standing in the European interventional cardiology sector, Alvimedica aims to bring both synergy and increased productivity levels to the medical device industry. The addition of the drug-eluting stent Cre8 to its portfolio – which already includes the drug-eluting stent Coracto® – will make Alvimedica the only company in the global market that offers two different types of internationally recognized drug-eluting stents.

Noting that this acquisition represents a significant stride towards Alvimedica's goal of ranking among the top five sector companies, Alvimedica CEO Cem Bozkurt said: In the course of the search we conducted for the purpose of expanding our product portfolio, we were impressed by CID’s management capabilities, coating technologies along with its existing product range and R&D activities. We also understood that a merger with CID would accord with our strategy of being a ‘European alternative’ in the global marketplace. This merger also gives us three centers of excellence – in Istanbul, the Netherlands, and Italy.

In noting that the merger would act to expand the export capacities of the two companies, Cem Bozkurt underscored the fact that Alvimedica is going to demonstrate the diversity potential of the world’s most powerful manufacturing technologies in the medical equipment market: The resulting combination of the two companies’ strengths will offer a solid opportunity for both to develop their production capacities. With CID’s more than 30 years of R&D strength and Alvimedica’s upcoming investments, our strength in R&D will grow manifold. Besides, the merger will propel us into the position of a leading brand that manufactures the world’s two best drug-eluting stents, both under the roof of Alvimedica. Our next goal at Alvimedica is to enter the North American market. I am fully confident that our company will enjoy even greater global brand recognition thanks to CID’s position as an international brand whose products have achieved global recognition.  

CID CEO Franco Vallana said, We at CID were looking for a visionary company that knew its way around the industry and wanted to invest in this particular field. Alvimedica is an ideal company for us and we are very happy to enter into this merger. I am sure that this merger will lead us to even more spectacular achievements in the medical device business and will provide opportunities for our company to even greater growth.

The merger enables Alvimedica to further strengthen its position in the industry through product and brand recognition while at the same time developing its manufacturing technologies and product range. The acquisition of the Italian-based CID will put Alvimedica on track to achieve its goal of being a “European alternative” in cardiovascular and endovascular devices.  

Source: Alvimedica