Advanced Energy acquires California RF equipment maker

DENVER — Advanced Energy Industries Inc. (Nasdaq: AEIS) has closed an acquisition of California-based medical-device power supplier Versatile Power Inc.

In a statement, Advanced said the acquisition will help it expand its portfolio in the medical device market. The deal includes a manufacturing center in Versatile’s hometown of Campbell, California.

“Versatile Power brings a long history in providing RF power supplies for therapeutic applications, consistent with our strategy to accelerate our presence in the medical equipment industry,” CEO Yuval Wasserman said in a statement.

The company declined to specify how much it paid for Versatile but said the deal is a net positive for its earnings-per-share figure and plans to offer more details in its next earnings call in February.

Advanced Energy, which was founded in Fort Collins, moved its corporate headquarters to Denver last year. It maintains a research and manufacturing site in Fort Collins. 

© 2021 BizWest Media LLC

DENVER — Advanced Energy Industries Inc. (Nasdaq: AEIS) has closed an acquisition of California-based medical-device power supplier Versatile Power Inc.

In a statement, Advanced said the acquisition will help it expand its portfolio in the medical device market. The deal includes a manufacturing center in Versatile’s hometown of Campbell, California.

“Versatile Power brings a long history in providing RF power supplies for therapeutic applications, consistent with our strategy to accelerate our presence in the medical equipment industry,” CEO Yuval Wasserman said in a statement.

The company declined to specify how much it paid for Versatile but said the deal is a net positive for its earnings-per-share figure and plans to offer more details in its next earnings call in February.

Advanced Energy, which was founded in Fort Collins, moved its corporate headquarters to Denver last year. It maintains a research and manufacturing site in Fort Collins. 

© 2021 BizWest Media LLC