09.01.10
The South Plainfield, N.J.-based company has merged with Advanced Polymers Inc., a Salem, N.H.-based firm that manufactures heat-shrink tubing and balloons used in angioplasty procedures.
Terms of the agreement were not disclosed. The deal follows the MedTech Group’s 2008 acquisition of design and development firm TDC Medical Inc., a move both Advanced Polymers and the MedTech Group cited as factoring into their decision to merge. The deal gives Advanced Polymers access to the MedTech Group’s global manufacturing footprint, including its operation in Costa Rica. It also bolsters the engineering capabilities of both companies, which now will have more than 100 engineers devoted to design, quality and manufacturing.
“This is a unique strategic combination of capabilities and expertise that will provide substantial growth opportunities for the combined company,” said Mark Saab, president of Advanced Polymers. “As MedTech has continued to expand its presence in the interventional markets, many devices built at MedTech have mission critical components made by Advanced Polymers. The combination also allows Advanced Polymers to leverage MedTech’s full contract manufacturing, supply chain management and TDC Medical’s design capabilities as we continue to grow our catheter development and manufacturing business and also look to expand our extrusion and component business.”
A news release issued by the MedTech Group about the merger said the two companies’ combined capabilities will create a “dynamic, comprehensive” offering that includes full scale design and development as well as global contract manufacturing for complex components and devices. The release called the combined company (which is getting a new name) an industry leader in plastics based solutions and technology.
MedTech Group President and CEO George Blank said the merger will help his company achieve its goal of investing in proprietary technology and processes.
“Our company now has a complete capability to assist our customers in delivering integrated solutions for the most demanding new interventional and minimally invasive devices,” he explained. “To reflect this enhanced direction, we will be rebranding the company to more accurately communicate the company’s position in the marketplace. A new name will be rolled out in the coming months.”
Advanced Polymers’ co-founders, Mark and Elisia Saab, will be “significant shareholders” in the combined company, and Mark Saab will continue to serve as president of Advanced Polymers. He also will serve on the MedTech board of directors.
The MedTech Group has manufacturing facilities in West Haven, Conn.; Vega Baja, Puerto Rico; and Heredia, Costa Rica. Its design and development facilities are located in Marlborough, Mass.; Sunnyvale, Calif.; and Boulder, Colo. MedTech also maintains a supply chain office in Singapore
Terms of the agreement were not disclosed. The deal follows the MedTech Group’s 2008 acquisition of design and development firm TDC Medical Inc., a move both Advanced Polymers and the MedTech Group cited as factoring into their decision to merge. The deal gives Advanced Polymers access to the MedTech Group’s global manufacturing footprint, including its operation in Costa Rica. It also bolsters the engineering capabilities of both companies, which now will have more than 100 engineers devoted to design, quality and manufacturing.
“This is a unique strategic combination of capabilities and expertise that will provide substantial growth opportunities for the combined company,” said Mark Saab, president of Advanced Polymers. “As MedTech has continued to expand its presence in the interventional markets, many devices built at MedTech have mission critical components made by Advanced Polymers. The combination also allows Advanced Polymers to leverage MedTech’s full contract manufacturing, supply chain management and TDC Medical’s design capabilities as we continue to grow our catheter development and manufacturing business and also look to expand our extrusion and component business.”
A news release issued by the MedTech Group about the merger said the two companies’ combined capabilities will create a “dynamic, comprehensive” offering that includes full scale design and development as well as global contract manufacturing for complex components and devices. The release called the combined company (which is getting a new name) an industry leader in plastics based solutions and technology.
MedTech Group President and CEO George Blank said the merger will help his company achieve its goal of investing in proprietary technology and processes.
“Our company now has a complete capability to assist our customers in delivering integrated solutions for the most demanding new interventional and minimally invasive devices,” he explained. “To reflect this enhanced direction, we will be rebranding the company to more accurately communicate the company’s position in the marketplace. A new name will be rolled out in the coming months.”
Advanced Polymers’ co-founders, Mark and Elisia Saab, will be “significant shareholders” in the combined company, and Mark Saab will continue to serve as president of Advanced Polymers. He also will serve on the MedTech board of directors.
The MedTech Group has manufacturing facilities in West Haven, Conn.; Vega Baja, Puerto Rico; and Heredia, Costa Rica. Its design and development facilities are located in Marlborough, Mass.; Sunnyvale, Calif.; and Boulder, Colo. MedTech also maintains a supply chain office in Singapore