Banner Medical

What Banner Medical does

Banner Medical Innovations, Inc. is a strategic business unit of Banner Industries and a specialty B2B supplier serving the medical device industry. The company sources, processes, and distributes medical grade raw materials, including stainless steel, titanium, cobalt chrome, aluminum, and cannulated bar products, to OEMs, contract manufacturers, and precision machine shops. Its core capability is centerless grinding and bar processing, achieving tight tolerances (±.006" TIR straightness, ±.0001" OD where required) and surface finishes to 8 Ra. Both Carol Stream, IL and Warsaw, IN facilities are ISO 13485:2016 and ISO 9001:2015 certified and FDA 21 CFR Part 820 compliant, with all processing equipment validated through IQ, OQ, and PQ protocols.

The business model is a vertically integrated raw materials plus value-added services offering. Revenue is generated through one-time sales of medical grade bar stock and profile, supplemented by recurring processing services (bar processing, near-net/fully machined parts, water-jet cutting, precision cut-to-length, custom packaging, heat treating, and NDT ultrasonic testing) and managed supply chain services (QRM methodology, vendor-managed inventory, on-site/in-plant inventory, blanket order, and hold-for-release programs). Pricing is quote-based, not publicly disclosed, and customers initiate engagement through website Request Quote forms. Distribution is direct B2B sales with a small team (Director of Sales and Regional Sales Manager); the company holds a U.S. Stocking Distributor partnership with Sandvik for selected stainless and titanium grades.

The company is privately held under MiddleGround Capital, which acquired parent Banner Industries in January 2020 and combined it with Supra Alloys and Edge International to form a broader metal bar products platform. The 43,000 sq ft Warsaw facility, opened in September 2015, extends geographic reach into the orthopedic device manufacturing cluster. Customer concentration is in five primary medical device end markets: surgical instruments, spine implants and instruments, orthopedic, extremities, and dental, with spine and orthopedic as the largest segments. Revenue is not publicly disclosed and no AI/ML capabilities are evidenced in the operating stack.

Name

Banner Medical

Legal name

Banner Medical Innovations, Inc.

Website

https://banner-medical.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

51–100 employees

Short description

Banner Medical Innovations is a U.S.-based, ISO 13485-certified supplier of medical grade raw materials (stainless steel, titanium, cobalt chrome, aluminum) and precision bar processing services to medical device OEMs, contract manufacturers, and precision machine shops, with facilities in Carol Stream, IL and Warsaw, IN.

Ownership category

akta.pro rank

Product category

Medical Grade Raw Materials and Processing Services

NAICS

Medical Equipment and Supplies Manufacturing (3391), Medical Equipment and Supplies Manufacturing (33911)

SIC

Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047)

akta.pro primary industry

Pharmaceutical & Medical Device Packaging (GMP, Tamper-Evident, Cold-Chain Packs) (TLAIAGAI)

Keywords

• Medical grade materials
• Precision bar processing
• Centerless grinding services
• Medical device manufacturing
• Value-added processing

Headquarters

HQ city

Carol Stream

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Raw Materials Supply: Supply of medical grade raw materials (stainless steel, titanium, cobalt chrome) to OEMs and contract manufacturers. Materials supplied in precision ground bar, profile, shaped, and near-net shape form.
2. Value-Added Processing Services: Processing services including bar processing, near net/fully machined parts, custom packaging, labeling, heat treating, water-jet cutting, precision cut-to-length, and NDT ultrasonic testing.
3. Supply Chain Management / VMI: Vendor Managed Inventory services, inventory management programs (on-site, off-site, JIT), blanket order programs, and hold for release programs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Banner Medical is a strategic business unit of Banner Industries that supplies medical grade raw materials (stainless steel, titanium, cobalt chrome, aluminum, cannulated products) in bar, profile, shaped, and near-net shape form to medical device OEMs, contract manufacturers, and precision machine shops. The company pairs material supply with in-house precision processing services such as centerless grinding, cut-to-length, water-jet cutting, near-net and fully machined parts, heat treating, ultrasonic testing, and FDA 510K compliance support, functioning as a single-source supply chain partner with approximately 1 million pounds of on-shelf medical grade inventory.

Product overview

Banner Medical is a strategic business unit of Banner Industries providing raw materials, processing, and testing services for the medical device industry. The company operates as a single-source solution provider offering a portfolio of integrated products and services: core materials (medical grade stainless steel, titanium, cobalt chrome, aluminum, and cannulated products in bar, shaped, and plate forms), precision manufacturing capabilities (bar processing with centerless grinding, near-net and fully machined parts, water-jet cutting, and precision cut-to-length), and value-added services (FDA 510K compliance consulting, heat treating, material traceability, ultrasonic testing). The company also provides supply chain management through Quick Response Manufacturing (QRM) methodology, material accessibility with approximately 1 million pounds of inventory, and vendor-managed inventory services. All facilities maintain ISO 13485 and ISO 9001 certifications.

Differentiator

Problem solved

Functional benefit

Products and services

• Bar Processing Precision ground bar processing services including centerless grinding that holds ±0.006" TIR straightness over a 12' bar standard and surface finish to 8 Ra for medical device applications, with up to ±0.0001" OD tolerance available on request.
• Near Net & Fully Machined Parts Supply of near-net shape and fully machined precision components for medical device manufacturing, designed to reduce supply chain complexity, machining time, and scrap loss.
• Custom Packaging Custom packaging solutions for medical grade materials including labeling and special finishing services tailored to medical device OEM requirements.
• Medical Grade Stainless Steel Materials Supply of medical grade stainless steel bar products including grades 440C, 455, 465, 17-4, 17-4H900, and X15TN for surgical instruments and implants.
• Medical Grade Titanium Materials Supply of medical grade titanium including 6Al-4V, 6Al-4V ELI, 6Al-7Nb, and Commercial Pure Grades 1 through 5 for implants and instruments.
• Medical Grade Cobalt Chrome Materials Supply of medical grade cobalt chrome alloys including UNSR31537 and MP35N for hip, knee, and other joint replacement implants.
• Cannulated Products Cannulated bar materials with hollow center supplied for intramedullary rods, pedicle screws, catheters, and other medical instruments requiring fixation features.
• Aluminum Materials Aluminum bar and products including 6061 and 7075 grades for surgical instrument applications.
• Water-Jet Cutting Services Water-jet cutting services for plate material in stainless, titanium, and aluminum grades up to 5.00" (127mm) thick, producing custom shaped blanks ready for machining.
• Precision Cut-To-Length Services CNC precision cut-to-length services for round and shaped materials with tolerances up to ±0.005", serving bar/profile sizes from 1.118" to 4.330" O.D. with no scrap loss.
• 510K & FDA Compliance Services Consultation and support services to help medical device OEMs achieve FDA 510K approval and assist through the FDA audit process.
• Heat Treating Services Heat treating services for medical grade materials delivered through vendor-managed partnerships to meet specification requirements.
• Material ID & Full Traceability Material identification and full traceability services to melt source per FDA 820.60, FDA 820.65, ISO 13485, and ISO 14971 requirements.
• NDT: UT Testing Services Non-destructive ultrasonic (UT) testing for medical grade bar products to verify material integrity.
• QRM (Quick Response Manufacturing) Quick Response Manufacturing service offering applied through dedicated Q-ROC cells that cut quoting, order entry, production, and shipping lead times by approximately 50%.
• Material Accessibility Services Approximately 1 million pounds of medical grade material inventory maintained on the shelf for rapid processing and delivery, plus access to off-site inventory through strategic supplier relationships.
• Inventory Management / In-Plant Services On-site, off-site, and Just-in-Time inventory management programs, plus contract employees for on-site raw material and finished goods inventory management.

Quantifiable outcome

• Reduced lead times by 50% through QRM methodology
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• SandvikmajorChannel Partner/ Reseller/ Distributor · 11 June 2014U.S. Stocking Distributor Partnership for 316LVM, 316 LSM, and Select Titanium Grade Materials. Customer benefits include improved service levels, larger selection of inventory, shorter lead times, on-site UT testing at Banner Medical, value added services, and customer support solutions.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Market position

Strengths4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Banner Medical