M&A Deal Summary

Avania Acquires Ironstone Product Development

On October 17, 2023, Avania acquired medical products company Ironstone Product Development

Acquisition Highlights
  • This is Avania’s 2nd transaction in the Medical Products sector.
  • This is Avania’s 1st transaction in Canada.
  • This is Avania’s 1st transaction in Ontario.

M&A Deal Summary
Date 2023-10-17
Target Ironstone Product Development
Sector Medical Products
Buyer(s) Avania
Deal Type Add-on Acquisition

Target

Ironstone Product Development

Toronto, Ontario, Canada
IPD is an ISO 13485:2016 certified medical device development company. The core focus areas for the business are early product development, quality, and strategic regulatory with projects in the areas of medical robotics and surgical navigation, AI/machine learning, imaging, respiratory devices, IVDs, and wearables. IPD was founded in 2013 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

Avania

Boston, Massachusetts, United States
Category Company
Founded 1988
Sector Medical Products
Employees271
DESCRIPTION

Avania is an integrated global, full-service CRO with specialized expertise in medical devices, novel technology, and combination products. It advances products from feasibility all the way through post-approval trials in analytics, clinical trials, consulting, regulatory, reimbursement, and more. Avania was founded in 1988 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 4 of 5
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 4 of 5
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-17 Hull Associates

Rockland, Massachusetts, United States

Hull Associates is a strategic market access and reimbursement consultancy firm specialized in achieving market access for medical device, diagnostic, and specialty pharma products in all major global markets, including United States, Europe, Latin America, Japan, India, and China. Hull Associates was founded in 2007 and is based in Rockland, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-08 Anagram

Barcelona, Spain

Anagram is a Clinical Research Organization (CRO) based in Spain providing clinical development and post-authorization trials for drugs and medical devices. Services include image central reading (core lab), analysis, and reporting by highly experienced professionals. It has specialized expertise in cardiology, neurology, and oncology. Anagram was formed in 1998 and is based in Barcelona.

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Mergr

Product

Company

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