MORRISVILLE, N.C., May 18, 2021 — Nuovo, a contract design, development and manufacturing firm specializing in medical and drug delivery devices, has closed a round of growth capital to fuel the company’s strategic development plans.
Nuovo intends to use this funding to open new design centers in Chicago, New Jersey, and Ireland, add a manufacturing location in Tijuana, Mexico, and grow current manufacturing operations in Pittsboro, NC.
Nuovo currently has two design offices, one in Morrisville, NC and one in Carlsbad, CA, that handle design and development engineering activities. Nuovo’s Pittsboro manufacturing plant and Shenzhen-based injection molding joint venture partner, Medacys, allow Nuovo to provide full-scale medical device manufacturing.
“Nuovo decided to take on minority equity investment in order to accelerate plans for growth and expansion,” said Ted Mosler, CEO of Nuovo. “Part of our overarching strategy at Nuovo is to be close to our customers and continually add to our expertise and service offerings to meet their needs. This funding provides us the resources to execute on that strategy. We’re excited to grow our team and our reach and continue delivering value to our customers.”
About Nuovo
Nuovo offers end-to-end services in design, development and contract manufacturing in the medical device and drug delivery/combination product markets. With an expanding global footprint, Nuovo utilizes industry experience and in-house talent to design, develop and manufacture everything from consumable medical devices to complex electromechanical drug delivery systems.