TEAM Technologies Inc.01.12.22
TEAM Technologies Inc., a growth-oriented North American engineering solutions and specialty manufacturer serving healthcare end markets, has acquired iiMED Medical Solutions, L.L.C. from affiliates of ACON Investments, L.L.C. Financial terms were not disclosed. The transaction represents the eighth transaction completed by TEAM since 2012 and the fourth acquisition since Clearlake invested in TEAM in 2018.
iiMED is a nearshore specialty manufacturer of FDA Class I & II consumable medical devices that partners with healthcare OEMs from design to manufacturing devices for patient monitoring, wound care, and compression therapy treatments. Based in Amherst, NY, and supported by a strong operational leadership team and skilled workforce in Reynosa, Mexico, iiMED’s core capabilities include RF welding, flame lamination, converting, sewing and clean room assembly. The combination with iiMED enhances TEAM’s portfolio of scalable technical capabilities, which range from design and material sourcing to manufacturing, assembly, and packaging, and establishes an attractive nearshore presence to better support the combined business’s customers in healthcare sectors.
“We are thrilled to welcome iiMED’s customer partners and talented employees to the TEAM family. We have been impressed with iiMED’s rapid growth and deep expertise across an array of specialty manufacturing solutions, and we look forward to working with the iiMED team to grow our combined business to better serve our healthcare customers,” said Marshall White, president and CEO of TEAM. “As our communities continue working through the implications of severe supply chain constraints and disruption, TEAM remains committed to building a North American footprint of scale and manufacturing excellence to aid our customers in their pursuit of enhanced procurement continuity and accelerated time-to-market for their critical healthcare solutions.”
“The combination with TEAM marks a new chapter in iiMED’s evolution,” said Bill Flaherty, CEO of iiMED. “We are excited to join TEAM and leverage their manufacturing expertise, scale, and operational footprint to further accelerate growth. We look forward to continuing to deliver high quality solutions to our healthcare customers.”
iiMED is a nearshore specialty manufacturer of FDA Class I & II consumable medical devices that partners with healthcare OEMs from design to manufacturing devices for patient monitoring, wound care, and compression therapy treatments. Based in Amherst, NY, and supported by a strong operational leadership team and skilled workforce in Reynosa, Mexico, iiMED’s core capabilities include RF welding, flame lamination, converting, sewing and clean room assembly. The combination with iiMED enhances TEAM’s portfolio of scalable technical capabilities, which range from design and material sourcing to manufacturing, assembly, and packaging, and establishes an attractive nearshore presence to better support the combined business’s customers in healthcare sectors.
“We are thrilled to welcome iiMED’s customer partners and talented employees to the TEAM family. We have been impressed with iiMED’s rapid growth and deep expertise across an array of specialty manufacturing solutions, and we look forward to working with the iiMED team to grow our combined business to better serve our healthcare customers,” said Marshall White, president and CEO of TEAM. “As our communities continue working through the implications of severe supply chain constraints and disruption, TEAM remains committed to building a North American footprint of scale and manufacturing excellence to aid our customers in their pursuit of enhanced procurement continuity and accelerated time-to-market for their critical healthcare solutions.”
“The combination with TEAM marks a new chapter in iiMED’s evolution,” said Bill Flaherty, CEO of iiMED. “We are excited to join TEAM and leverage their manufacturing expertise, scale, and operational footprint to further accelerate growth. We look forward to continuing to deliver high quality solutions to our healthcare customers.”
