Cadence Inc., a contract manufacturer with a broad array of metal fabrication and plastics processing services for medical device OEMs, has acquired Utitec Inc., a manufacturer specializing in miniature, deep-drawn medical device and commercial components.
Utitec is headquartered in Watertown, CT, with an additional medical facility located in Alajuela, Costa Rica.
Cadence has its headquarters in Staunton, VA, and operates five facilities in Rhode Island, Pennsylvania, Wisconsin, and Connecticut. It also maintains a plant in Costa Rica.
Utitec’s expertise in miniature, high-precision components for medical devices was a driving factor in the acquisition, said Cadence President and CEO Rob Werge. “Acquiring Utitec better positions Cadence to lead the medical device contract manufacturing industry through investment, innovation, and faster growth to best meet our customers’ evolving needs,” said Werge in a prepared statement. Utitec also brings expanded cleanroom assembly capacity in Costa Rica, he added, where both companies have a footprint.
The terms of the transaction, overseen financially by Brown Gibbons Lang & Co., were not disclosed.
Deep draw capabilities provide a manufacturing solution at a lower cost than conventional machined parts thanks to reduced labor and high-volume throughput, said Cadence in the announcement. The technique produces highly engineered miniature and ultra-miniature metal components that strongly align with Cadence’s current service offerings, the company added.
Cadence offers an array of capabilities, ranging from machining and laser-based processing to injection molding. Insert and two-shot injection molding is coupled with many of its metal components and sub-assemblies, said Cadence, which offers the service in three of its facilities to help reduce lead time and costs for customers.
Cadence will exhibit at the co-located Plastec West and Medical Design & Manufacturing (MD&M) West event in Anaheim, CA, on Feb. 7 to 9, 2023. Visit the company at booth 1801.
