Synergetics USA Acquires Medimold, Inc.

Synergetics USA, Inc., a leading microsurgery company that designs, manufactures, and markets medical devices for use primarily in ophthalmic surgery and neurosurgery, announced that it has purchased Medimold, Inc., a Missouri based operation specializing in plastic injection molding for $80,000 in cash consideration.

Medimold, Inc. designs, engineers, and manufactures quality specialized medical tools and devices through their plastic injection molding technology. Synergetics plans to incorporate the technology into their operations by moving currently machined parts to the Medimold platform. Annual initial cost savings resulting from the transaction are expected to exceed $100,000 and ultimately exceed $250,000. The acquisition is also expected to enhance component quality, expand the Company’s manufacturing capacity, and provide greater component inventory control.

Commenting on the acquisition, Kurt Gampp, Executive Vice President and Chief Operating Officer of Synergetics USA, Inc., stated, “The acquisition of Medimold is in keeping with our ongoing process improvement at all levels of the organization. From a product development and manufacturing perspective, Medimold’s technology is a perfect fit with our manufacturing process. After a thorough analysis, the long term cost benefits of this investment were clearly undeniable. This acquisition will not only contribute to our cost saving initiatives but will also allow us have greater control of our inventory levels, an issue that we are turning our attention and focus to. We look forward to integrating the Medimold personnel, processes and technology into our system and realizing continued operational benefits going forward.”

SOURCE: iStockAnalyst