Germany’s Stratec, a developer of automation systems for in vitro diagnostics and life science companies, announced yesterday that it had signed an agreement to acquire US-based contract molder Natech Plastics. Based in Ronkonkoma, NY, and serving the medical technology industry, among others, Natech brings Stratec a footprint in North America along with synergies in the development and marketing of smart polymer-based consumables for medical applications.
The deal is valued at $30 million plus an undefined earn-out amount based on performance criteria through 2025. Completion is expected in July 2023.
Stratec designs and manufactures fully automated analyzer systems for its partners in the clinical diagnostics and life sciences fields and offers complex consumables for diagnostic and medical applications. Typically, the partners market the analyzers, software, and consumables, together with their own reagents, as system solutions to laboratories, blood banks, and research institutes around the world.
Natech maintains three production facilities — two in Ronkonkoma and a third specialized in moldmaking in Clark, NY. Hydraulic, electric, and hybrid press sizes range from 40 to 400 tons and are equipped with servo-driven robotics for high-speed automation. The company also maintains an ISO Class 8 cleanroom.
“Natech’s complementary product and customer portfolio, together with new target markets, make it a perfect addition to our business model, which focuses on OEM partnerships,” commented Stratec CEO Marcus Wolfinger. “Natech also offers great potential for further targeted diversification in our business.”
Wolfinger added that Stratec plans to expand Natech’s facility, which will include system production. “This will enable us to address customer needs even more effectively in future and further boost our position in what is an important market for us. Thanks to the Stratec Group’s already strong market position in smart consumables, particularly in cooperation with the leading players in the in vitro diagnostics industry, we expect to see notable synergies in terms of sales and technology.”