CTL Medical Corporation, a Dallas, Texas-based medical device manufacturing and service company, has signed an agreement to acquire AccelSPINE, a medical device designer and manufacturer headquartered in Dallas. The acquisition went into effect January 25, 2016. Daniel Chon founded both of them.
AccelSPINE is a privately held company that was established in October 2010 by then President and CEO Chon. The company chose its Dallas headquarters in March 2011 to leverage strategic business initiatives and, according to company officials, has since experienced significant growth.
In 2015, AccelSPINE received its CE Marking and EN ISO 13485 certification. This certification allowed AccelSPINE to expand its customer base to the 28 countries that make up the European Union and 5 additional countries that adhere to European Union regulations.
“AccelSPINE is a leader in our industry, and it has a proven track record of producing exceptional medical products. Acquiring AccelSPINE not only helps advance our global growth strategy, but it also helps us meet the needs of our growing customer base, ” said CTL Medical Chief Business Development Officer Andy Choi.
The CTL Medical Corporation plans to retain all of AccelSPINE’s current employees and executives, and anticipates a significant increase in its workforce by early 2017.
Chon founded CTL Medical Corporation in 2015. His vision was to create a fully integrated, industry leading, global medical device design, development and manufacturing company.
