Chris Delporte02.06.12
Phillips Plastics Corporation has begun the rebranding process.
Executives from the Hudson, Wis.-based firm confirmed that they are in the process of changing the company's name to Phillips-Medisize Corporation. This name change is the result of Phillips' acquisition of Medisize Inc. last summer—the deal was announced on July 8. Phillips bought Finland-based Medisize for 99.8 million euros (approximately $140 million) from Ratos AB, a private-equity group based in Sweden.
“This name change represents the culmination of much hard work by the employees of both the Phillips Plastics and Medisize enterprises," said President and CEO Matt Jennings. “The new name will take full advantage of the wonderful franchises that both these companies have built over the last 30-plus years. We will work with our customers, regulatory agencies and suppliers over the ensuing months to effectively execute this name change.”
As a result of the new moniker, the company’s new website also will change to phillipsmedisize.com. Both the medisize.com and phillipsplastics.com sites will remain active "for the foreseeable future," according to the company.
Phillips-Medisize provides design and manufacturing services to the medical device and diagnostics, drug delivery and commercial markets. The company has annual sales of just under $500 million, 75 percent of the total revenue coming from drug delivery, medical device and diagnostic products such as disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single-use surgical devices and consumable diagnostic components.
With more than 2,100 employees, the company has 19 locations throughout the United States, Europe and China, including design centers in Wisconsin, California and the Netherlands.
Executives from the Hudson, Wis.-based firm confirmed that they are in the process of changing the company's name to Phillips-Medisize Corporation. This name change is the result of Phillips' acquisition of Medisize Inc. last summer—the deal was announced on July 8. Phillips bought Finland-based Medisize for 99.8 million euros (approximately $140 million) from Ratos AB, a private-equity group based in Sweden.
“This name change represents the culmination of much hard work by the employees of both the Phillips Plastics and Medisize enterprises," said President and CEO Matt Jennings. “The new name will take full advantage of the wonderful franchises that both these companies have built over the last 30-plus years. We will work with our customers, regulatory agencies and suppliers over the ensuing months to effectively execute this name change.”
As a result of the new moniker, the company’s new website also will change to phillipsmedisize.com. Both the medisize.com and phillipsplastics.com sites will remain active "for the foreseeable future," according to the company.
Phillips-Medisize provides design and manufacturing services to the medical device and diagnostics, drug delivery and commercial markets. The company has annual sales of just under $500 million, 75 percent of the total revenue coming from drug delivery, medical device and diagnostic products such as disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single-use surgical devices and consumable diagnostic components.
With more than 2,100 employees, the company has 19 locations throughout the United States, Europe and China, including design centers in Wisconsin, California and the Netherlands.