Minnetronix rebrands from contract manufacturer to in-house medtech developer

Contract medtech manufacturer Minnetronix has rebranded itself in line with its plans to design and make devices of its own, starting in neurological intensive care.

The 22-year-old St. Paul, Minnesota-based company’s first project focuses on hemorrhagic stroke patients, with a minimally invasive process that filters blood out of a patient’s cerebrospinal fluid following an aneurysm before returning the cleaned CSF back to the body.

The renamed Minnetronix Medical has completed a first-in-human study for its Neurapheresis therapy, which aims to reduce a patient’s exposure to the toxic byproducts of degrading red blood cells, and plans to begin an extended study this fall.

"Minnetronix is growing and broadening its footprint in the healthcare industry," said CEO Rich Nazarian in a statement, describing how the company’s new branding better reflects its mission's evolution.

"Over more than two decades we’ve gained a breadth and depth of skill and experience that we’re continuing to use to deliver meaningful solutions to our medical device customers as well as neurocritical care physicians and patients," Nazarian added.

In addition, the made-over company announced further investments in its contract manufacturing areas, including in radiofrequency energy, fluid and gas management, optical systems and wearable stimulation devices.

Minnetronix’s yearslong journey from being solely a contract manufacturer to a proprietary developer got a boost two years ago with a $20 million investment from Altaris Capital Partners, its first equity capital raise since its founding in 1996.

After developing almost 100 devices for medtech clients, the company began collecting intellectual property for its own products in 2009. Its other proprietary technologies include a device connectivity platform, customized power and control units for ventricular assist devices and a concept for a percutaneous ventricular assist device.

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