What Medicoat does

Medicoat AG is a Swiss privately held thermal spray company founded in 1989 and headquartered in Mägenwil, Switzerland, specializing in plasma-based coatings for medical implants and industrial components. The company operates four integrated business areas: (1) implant coating services applying rough titanium and hydroxyapatite coatings via VPS and APS processes to metallic, ceramic, and polymer implants under ISO 13485 and FDA inspection; (2) thermal spray systems engineering, including VPS (LPPS, H-VPS, LP-VPS, PS-PVD), APS, HVOF, and the proprietary MCAPS modular system, delivered as turnkey installations worldwide; (3) in-house spray powder production covering cpTi, HDH titanium, hydroxyapatite, biosorbable HA/TCP blasting media, and antibacterial HA/Ag powders; and (4) a one-stop-shop offering CNC machining, polishing, laser marking, and ISO Class 6 cleanroom packaging. Proprietary technologies include Medipure® coating brands, VPS adaptation for PEEK/PEKK implants (CE-marked and FDA-approved), FlowMotion® powder feeders, FlowWatch® powder flow sensors, and TrueVoltage® arc-voltage sensors.

The company employs over 100 staff across sites in Mägenwil and Wohlen (Switzerland), Etupes (France), and Gu'an County, Hebei (China, established 2023 via the jointly controlled Medicoat China). The GTM motion is direct enterprise field sales to medical device OEMs, aerospace operators (notably SR Technics Switzerland AG), and industrial thermal spray customers globally. Revenue is generated through a mix of professional-services coating contracts, hardware sales of thermal spray systems with spare parts and service, and consumable powder sales. Long-tenured ISO certifications (ISO 9001 since 1998, ISO 13485 since 2010), a European patent on antibacterial HA coatings, and the Thermal Spray Hall of Fame induction of founder Dr. Heiko Gruner (ITSC 2022) underpin regulatory and reputational barriers.

Ownership is held through Medicoat Holding AG, with second-generation family leadership (CEO Philipp Gruner succeeding founder Heiko Gruner in 2010) and a minority stake taken by Eifeler Holding in October 2017. Subsidiaries include wholly-owned Medicoat SAS (France), majority-owned Medicoat France SAS (powder production), jointly controlled Medicoat China, and a minority stake in Austria-based Plasma Innovation GmbH.

Name

Medicoat

Legal name

Medicoat AG

Website

https://medicoat.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

51–100 employees

Short description

Medicoat AG is a Swiss thermal spray company that applies plasma-spray titanium and hydroxyapatite coatings to medical implants, sells turnkey VPS/APS/HVOF coating systems, produces spray powders in-house, and offers one-stop-shop implant manufacturing and cleanroom packaging for global medical device and industrial customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Baden

HQ country

Switzerland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Implant Coating Services: Coating services for medical implants including titanium and hydroxyapatite plasma spray coatings on metallic, ceramic, and polymer implants. ISO 13485 certified and FDA inspected. Revenue generated through service contracts and project-based coating work.
2. Thermal Spray Systems & Equipment: Development and manufacturing of complete thermal spray systems (VPS, APS, HVOF, MCAPS) sold as turnkey solutions globally. Includes spare parts, maintenance, process optimization, calibration, and retrofit services.
3. Spray Powder Production & Sales: In-house production and sale of titanium (cpTi, HDH) and hydroxyapatite (HAP) spray powders, biosorbable blasting media (HA/TCP), and specialty powders (HA/Ag antibacterial). Sold to external customers and used internally for coating operations.
4. One-Stop-Shop (Implant Manufacturing & Packaging): Complete implant manufacturing including CNC machining, polishing, laser marking, and cleanroom packaging (blister and pouch). Bundled with coating services for a comprehensive solution.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Medicoat develops and delivers integrated thermal spray solutions, including plasma spray coating services for medical implants (titanium and hydroxyapatite coatings applied to metallic, ceramic, and polymer implants), turnkey thermal spray systems (VPS, APS, HVOF, and MCAPS variants) sold globally with installation and service support, in-house production of titanium and hydroxyapatite spray powders, and a one-stop-shop contract manufacturing offering that combines CNC machining, polishing, laser marking, and cleanroom packaging of implants for orthopedic OEMs.

Product overview

Medicoat is an innovative thermal spray technology company specializing in plasma coatings for medical implants and industrial applications. The company operates a unified platform-plus-services model comprising four interconnected business areas: (1) Implant Coating Services providing titanium and hydroxyapatite plasma spray coatings via VPS and APS processes; (2) Thermal Spray Systems (VPS, APS, HVOF) including the proprietary MCAPS modular system; (3) Medipure® Spray Powders producing titanium and hydroxyapatite materials in-house; and (4) One-Stop-Shop manufacturing offering CNC machining, coating, and cleanroom packaging. Key proprietary sub-products include FlowMotion® powder feeders, FlowWatch® and TrueVoltage® sensors, and Medipure™ titanium coatings for PEEK/PEKK polymers. The company holds ISO 9001 and ISO 13485 certifications and serves customers worldwide from facilities in Switzerland, France, and China.

Differentiator

Problem solved

Functional benefit

Brands

• Medipure: Brand name for Medicoat's coating products including Medipure Ti (titanium plasma spray), Medipure HA (hydroxyapatite), and Medipure dual Ti/HA coatings for medical implants.
• MCAPS
• FlowMotion
• FlowWatch
• TrueVoltage

Products and services

• Implant Coating Service Comprehensive plasma spray coating services for medical implants, applying titanium, hydroxyapatite, and combined Ti/HA coatings onto metallic, ceramic, and polymer implants for orthopedic, spine, dental, trauma, and veterinary OEMs. The service operates under ISO 13485 (since 2010) and FDA inspection, and is bundled with the Medipure® coating brand.
• Thermal Spray Systems (VPS, APS, HVOF) Turnkey thermal spray systems including Vacuum Plasma Spraying (VPS in LPPS, H-VPS, LP-VPS, PS-PVD variants), Atmospheric Plasma Spraying (APS), High-Velocity Oxy-Fuel (HVOF), and other thermal spray technologies, sold worldwide to medical device manufacturers, aerospace MROs, and industrial surface treatment customers. Each system includes installation, commissioning, spare parts, maintenance, calibration, and retrofit services under ISO 9001.
• MCAPS (Modular Compact APS System) Modular and compact Atmospheric Plasma Spraying system for high-throughput coating of small components, offering maximum productivity within a minimal footprint, short cycle times, and flexible handling. Launched in 2020 as a novel concept for medical and industrial coating applications.
• Medipure® Spray Powders In-house produced spray powders for thermal coating, including HDH titanium (cpTi) powders, hydroxyapatite (HAP) powders, biosorbable blasting media (HA/TCP), antibacterial powders (HA/Ag), and specialty ceramic morphologies. Sold to external customers and used internally for coating operations under ISO 13485.
• Medipure® Implant Coatings (Ti, HA, dual Ti/HA, and PEEK/PEKK) Branded plasma spray coating formulations including Medipure® Ti (titanium plasma spray for osseointegration), Medipure® HA (hydroxyapatite for rapid bone integration), Medipure® dual Ti/HA (combined coating for enhanced performance), and Medipure™ titanium coating on PEEK/PEKK/CFR-PEEK polymer substrates for spinal implants (CE-marked and FDA-approved). Individually tailored to customer products.
• One-Stop-Shop Implant Manufacturing and Cleanroom Packaging Complete contract implant manufacturing services including CNC machining (milling and turning), polishing, laser marking, and cleanroom packaging in blister or pouch (ISO Class 6). Bundled with coating services to provide a single-vendor solution for orthopedic OEMs; ISO 13485 certified and FDA inspected.
• FlowMotion® Powder Feeder In-house developed powder feeder for thermal spray applications enabling precise powder feeding into VPS, APS, and HVOF processes.
• FlowWatch® Powder Flow Sensor World-first sensor for monitoring and controlling powder feed rates in thermal spray systems to ensure process consistency and quality assurance.
• TrueVoltage® Sensor World-first arc voltage measurement sensor mounted at the plasma gun for real-time process control and quality assurance in thermal spray operations.

Quantifiable outcome

• More than 35 years of experience in spray technology with millions of implants coated
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Scale indicators8 records

Recent moves14 records

Expansion highlights6 records

Direct peers

• Oerlikon (Oerlikon Metco): Global leader in thermal spray equipment, materials, and coating services for aerospace, automotive, and medical applications. Most direct competitor to Medicoat across the full thermal spray value chain (equipment, powders, services), but at significantly larger scale.
• Praxair Surface Technologies (Linde): Surface coating services and thermal spray powder producer serving aerospace and industrial markets; part of Linde's specialized business. Directly comparable thermal spray services and powders portfolio, though with a more industrial/aerospace skew than Medicoat's medical focus.
• Flame Spray Technologies: Dutch-based designer and manufacturer of thermal spray systems (HVOF, plasma, arc spray) serving industrial and medical customers. Smaller-scale but directly comparable equipment competitor with similar specialty-coating positioning.
• H.C. Starck (Mersen): Producer of refractory metal powders, thermal spray powders, and ceramic materials used in coating applications including medical implants. Overlaps with Medicoat's Medipure® powder production business, especially in titanium and ceramic powder morphologies.

Broad incumbents

• Bodycote: Largest global thermal processing services provider, including surface treatments and coatings, serving aerospace, automotive, and industrial markets. Competes with Medicoat in coating services but operates at vastly larger scale and broader scope.
• Curtiss-Wright Surface Technologies: Provides thermal spray coatings, shot peening, and other surface enhancement services primarily for aerospace and defense markets. Directly comparable thermal spray services capability though with industrial rather than medical specialization.
• Saint-Gobain Coating Solutions: Large diversified materials company producing ceramic powders, thermal spray powders, and coated components across multiple industries. Competes with Medicoat in raw materials (powders) and finished coated parts, with much greater scale and breadth.
• AMETEK (Surface Engineering): Diversified industrial manufacturer including surface treatment and thermal processing equipment. Competes with Medicoat in industrial thermal spray applications and system engineering, though medical exposure is more limited.

Emerging players

• Carpenter Technology: Specialty alloy and titanium producer for medical implants, including powder forms for additive manufacturing. Increasingly adjacent to Medicoat's titanium powder business as 3D printing of orthopedic implants grows.
• Kyocera (Medical Components): Manufacturer of ceramic and biocompatible components for medical implants and electronics. Adjacent to Medicoat's coated ceramic implant franchise (world-first approval 2025); could become partner or competitor as ceramic implants scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/medicoat
• Facebookfacebook.com/Medicoat
• LinkedInlinkedin.com/company/medicoat-ag

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medicoat