Sam Brusco, Associate Editor05.17.23
Biomerics, a vertically integrated contract manufacturer for interventional medical devices, has begun an agreement to merge with Precision Concepts’ medical business (Precision Concepts Medical).
The transaction includes the medical business of Precision Concept International (PCI) and Precision Concepts Group (PCG) headquartered in Winston-Salem, N.C. Both Precision Concepts Medical businesses are headquartered in the United States with operations in Harrisonburg, Va.; Mebane, N.C.; Winston-Salem, N.C.; Haina, Dominican Republic; and Alajuela, Costa Rica.
"Precision Concepts Medical is a recognized leader that offers unique capabilities in micro-metals machining and stamping, injection micro-molding, and micro-assembly processes," Travis Sessions, CEO of Biomerics told the press. "The addition of these capabilities and manufacturing footprint extends Biomerics' offerings as a leading supplier to the world's largest medical device OEMs. We are excited to partner with the talented team at Precision Concepts Medical to deliver our shared vision."
The combined company will have more than 1.2 million square feet of manufacturing space in 13 locations. Biomerics has about 250 dedicated engineers, one of the largest new product development teams, according to the company.
Biomerics supplies 20 of the top 35 medical device makers in markets including structural heart, electrophysiology, robotic surgery, cardiovascular disease, and endoscopy.
"We are excited for the value this partnership brings to our existing customer base in Costa Rica and interventional OEM partners around the globe," stated Ray Grupinski, CEO of Precision Concepts. "The thriving medical device ecosystem in Costa Rica and the Dominican Republic aligns well with Biomerics' culture and innovative core." Grupinski will become an active member of the Board of Directors of Biomerics and will continue to help advance the strategy and vision of the company.
The deal also makes Biomerics the largest contract manufacturer in the Costa Rica market with about 290,000 square feet of manufacturing space and about 100 engineers on site.
"For more than 45 years, Precision Concepts Group has been achieving our customers' exacting standards for components that require the micro-integration of metals and plastics," stated Vince Marino, founder and president of PCG.
"We found a shared culture and value of customers in Biomerics and look forward to partnering with Biomerics to extend this legacy," stated Vincent Christopher, co-founder and VP of operations of PCG.
The Precision Concepts Medical locations will continue to be led by existing leadership teams. The transaction is expected to close in June 2023.
Until the transaction closes, each company will continue to independently operate. Precision Concepts’ consumer packaging business will continue to be led by Ray Grupinski, CEO, and the existing leadership team.
The transaction includes the medical business of Precision Concept International (PCI) and Precision Concepts Group (PCG) headquartered in Winston-Salem, N.C. Both Precision Concepts Medical businesses are headquartered in the United States with operations in Harrisonburg, Va.; Mebane, N.C.; Winston-Salem, N.C.; Haina, Dominican Republic; and Alajuela, Costa Rica.
"Precision Concepts Medical is a recognized leader that offers unique capabilities in micro-metals machining and stamping, injection micro-molding, and micro-assembly processes," Travis Sessions, CEO of Biomerics told the press. "The addition of these capabilities and manufacturing footprint extends Biomerics' offerings as a leading supplier to the world's largest medical device OEMs. We are excited to partner with the talented team at Precision Concepts Medical to deliver our shared vision."
The combined company will have more than 1.2 million square feet of manufacturing space in 13 locations. Biomerics has about 250 dedicated engineers, one of the largest new product development teams, according to the company.
Biomerics supplies 20 of the top 35 medical device makers in markets including structural heart, electrophysiology, robotic surgery, cardiovascular disease, and endoscopy.
"We are excited for the value this partnership brings to our existing customer base in Costa Rica and interventional OEM partners around the globe," stated Ray Grupinski, CEO of Precision Concepts. "The thriving medical device ecosystem in Costa Rica and the Dominican Republic aligns well with Biomerics' culture and innovative core." Grupinski will become an active member of the Board of Directors of Biomerics and will continue to help advance the strategy and vision of the company.
The deal also makes Biomerics the largest contract manufacturer in the Costa Rica market with about 290,000 square feet of manufacturing space and about 100 engineers on site.
"For more than 45 years, Precision Concepts Group has been achieving our customers' exacting standards for components that require the micro-integration of metals and plastics," stated Vince Marino, founder and president of PCG.
"We found a shared culture and value of customers in Biomerics and look forward to partnering with Biomerics to extend this legacy," stated Vincent Christopher, co-founder and VP of operations of PCG.
The Precision Concepts Medical locations will continue to be led by existing leadership teams. The transaction is expected to close in June 2023.
Until the transaction closes, each company will continue to independently operate. Precision Concepts’ consumer packaging business will continue to be led by Ray Grupinski, CEO, and the existing leadership team.