November 8, 2024 (Boston, MA) – Covington Associates, a leading middle-market investment bank, announced its role as exclusive financial advisor to Lighteum LLC, a San Diego-based innovator in nitinol-based medical component manufacturing, in the sale of its business to MDC (Medical Device Components).

This acquisition brings together Lighteum’s pioneering nitinol processing capabilities with MDC’s expertise in platinum group metals and advanced micromachining, further enhancing MDC’s position in the minimally invasive medical device market.

“The Covington team did an amazing job of representing Lighteum and orchestrating this transformational transaction” said Lorie Lodico, Co-founder of Lighteum.

Founded in 2022, Lighteum has quickly established itself as a leader in nitinol-based medical components, known for high-complexity solutions and a collaborative, customer-first approach. Its core capabilities include femtosecond laser processing, heat shaping, and electropolishing, enabling Lighteum to serve a broad range of medical device OEMs with rapid prototyping and production.

The acquisition of Lighteum strengthens MDC’s leadership in precision medical components manufacturing and brings a host of strategic advantages to MDC:

1. Enhanced Front-End Capabilities: Lighteum's advanced nitinol processing and design & development expertise complements MDC's micromachining skills, enabling a broader range of services from prototyping to high-volume production.

2. Broader Global Reach: MDC’s established infrastructure will extend Lighteum’s global footprint, creating new opportunities to operate in key markets.

3. Improved Customer Solutions: By combining resources, MDC and Lighteum will accelerate product development and enhance client support, ensuring faster time to market for life-saving technologies.

This acquisition positions both Lighteum and MDC for continued growth and continued innovation, enhancing their ability to meet the evolving needs of the medical device manufacturing industry.

About Lighteum

Lighteum is a manufacturer of high-complexity, nitinol-based medical components, focused on transforming customer experience through best-in-class transparency and innovation. Its specialized capabilities in femtosecond laser processing, heat shaping, and electropolishing technologies serve the medical device market, advancing new and complex component designs.

About MDC

MDC is a global leader in precision medical components for minimally invasive devices, with specialization in platinum group metals, nitinol, and advanced coatings. MDC’s long-standing expertise in metallurgy and micromachining enables the world’s leading medical device companies to bring life-saving technologies to market quickly and efficiently.

About Covington Associates

Covington Associates is an investment banking firm offering advisory services in mergers and acquisitions (M&A), capital raising, and strategic advisory for middle-market companies across Healthcare, Business Services, Consumer & Industrial, and Technology sectors. Established in 1991 and headquartered in Boston, Covington has successfully completed over 350 transactions globally for private and publicly traded companies, totaling more than $30 billion.