Formacoat Strengthens Commercial Leadership and Appoints Dhruv Patel as Vice President of Coatings to Accelerate Expansion of HydroMark™ Hydrophilic Coating Platform
Industry expert joins Formacoat as the company expands its proprietary coating portfolio, providing OEMs and CMOs with an independent alternative in a rapidly consolidating hydrophilic coatings market
CHASKA, Minn. – [July 21, 2026] – Formacoat, a leading provider of advanced medical device coating services and contract manufacturing solutions, today announced the appointment of Dhruv Patel as Vice President of Coatings. Patel will lead the company’s commercial strategy for coating technologies, supporting the continued expansion of the HydroMark™ platform while strengthening customer partnerships with medical device OEMs and contract manufacturers worldwide.
Patel joins Formacoat during a period of significant investment and growth as the company expands its proprietary coating technology portfolio, enhances manufacturing capabilities, and broadens its commercial presence. His appointment reflects Formacoat’s commitment to providing the medical device industry with innovative coating solutions and a strong independent partner at a time when consolidation has reduced the number of coating technology providers available to OEMs and CMOs.
With more than two decades of experience in the medical device industry, Patel brings expertise in coating technologies, commercialization, business development, product development, manufacturing, and strategic customer partnerships. Throughout his career, he has worked with leading global medical device companies within minimally invasive medical devices across cardiovascular, neurovascular, peripheral vascular, structural heart, lectrophysiology, and other interventional markets.
“Formacoat continues to invest in our people, coating technologies, and manufacturing capabilities because we believe medical device companies deserve greater choice, technical partnership, and long-term supply chain flexibility,” said Mark Gross, CEO of Formacoat. “Dhruv understands both the technical and commercial challenges facing OEMs and CMOs. His experience building customer relationships and bringing innovative technologies to market will help accelerate adoption of HydroMark™ while supporting Formacoat’s long-term growth strategy.”
As Vice President of Coatings, Patel will lead Formacoat’s commercial strategy for coating technologies, working closely with OEMs and CMOs to identify new opportunities, support product development programs, expand strategic partnerships, and strengthen the company’s market presence. He will also lead strategic marketing initiatives esigned to increase awareness of Formacoat’s expanding technology portfolio and integrated manufacturing capabilities.
“The medical device coatings industry is entering a new chapter,” said Patel. “As supplier consolidation continues, OEMs and CMOs are looking for partners that deliver not only exceptional coating performance but also flexibility, responsiveness, and long-term collaboration. Formacoat is uniquely positioned because we combine more than 25 years of coating application expertise with their new proprietary HydroMark™ technology platform and commitment to continued coating innovation. I’m excited to help expand our customer partnerships, strengthen our commercial presence, and establish Formacoat as the partner of choice for companies seeking an independent, echnically focused coating and manufacturing partner.”
Formacoat continues to expand the HydroMark™ platform through ongoing investment in research and development, manufacturing infrastructure, and scientific talent. In addition to its established thermal-cured hydrophilic coating capabilities, the company is actively developing UV-cured hydrophilic coating technologies to build on Formacoat’s decades of coatings expertise while expanding market options for a broad range of minimally invasive medical devices.
By combining proprietary coating technology development with coating application, process development, validation, and contract manufacturing services, Formacoat provides an integrated solution that helps OEMs and CMOs streamline product development, simplify supplier management, accelerate commercialization, and strengthen long-term supply chain resilience.
Patel’s appointment represents another milestone in Formacoat’s strategy to become one of the medical device industry’s leading independent providers of advanced coating technologies and manufacturing solutions. By combining technical innovation with commercial leadership and customer collaboration, the company is well positioned to support the evolving needs of medical device manufacturers worldwide.
About Formacoat
Founded more than 25 years ago and headquartered in Chaska, Minnesota, Formacoat is a leading medical device contract manufacturer specializing in advanced coating technologies, coating application, process development, and manufacturing services. Through its expanding HydroMark™ platform, Formacoat partners with medical device OEMs and CMOs to improve device performance, accelerate commercialization, and deliver innovative coating solutions for minimally invasive medical devices. The company’s collaborative approach, technical expertise, and commitment to innovation provide customers with a trusted independent partner for coating technology and manufacturing excellence.
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2960 Chaska Blvd
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