In a sign of the times, Houston-based medical device maker Velentium announced it has expanded its business to include in-house testing services for the oil and gas sector.
The move is an example of companies in MedTech recently branching out with tech and engineering capabilities. It comes after Velentium recently acquired Oasis Testing, a designer of automated testing systems in the oil and gas sector.
Velentium previously offered testing systems for multiple industries focused mainly on high pressure, high temperature systems for the energy industry. Its testing products are designed to go beyond test/fail by using machine learning and data analytics, said Demetri White, senior program manager at Velentium.
The company will also offer repair and maintenance services for existing equipment. Schlumberger, an oilfield services company with 86,000 employees, began working with Velentium last year. “We didn’t have to start at square one,” by working with Velentium, said Chad Hardwick, testing speciality for Schlumberger.
Many of the engineers at Velentium received their start in the oil and gas sector, including at Oasis Testing, according to Velentium CEO Dan Purvis.
Velentium plans a full-scale verification and validation testing facility to support client projects but didn’t announce a timeline.
Embracing oil and gas testing isn’t the first time Velentium pivoted. Last year, its engineers stepped up to test ventilaters used to treat COVID-19 patients.