Private investment firm Graham Partners announced that portfolio company Medbio LLC has acquired Polymer Conversions Inc. (PCI). Located in Grand Rapids, MI, Medbio specializes in cleanroom injection molding and assembly for the medical device, life science, and biotechnology sectors. The acquisition of PCI, headquartered in Orchard Park, NY, follows Medbio’s acquisition of AIM Plastics Inc., which was completed in February 2019. Graham Partners, based in Newtown Square, PA, targets investments in technology-driven advanced manufacturing companies.

PCI is a full-service medical device contract manufacturer that specializes in complex thermoplastic injection molding and value-add assembly. PCI is complementary to the existing Medbio platform, expanding the company’s geographic presence, while creating cross-selling opportunities across a base of blue-chip medical device customers, according to information from Graham Partners.

The acquisition of PCI is also expected to present significant operational and commercial synergies. Joe Heinmiller, Managing Principal at Graham Partners, said, “Medbio has performed well during the COVID-19 pandemic and we are excited to complete the strategic addition of PCI to continue to grow the Medbio platform.”

Chris Williams, Medbio CEO stated, “I’m looking forward to partnering with the PCI team to expand Medbio’s manufacturing capabilities, while reaching new customers and end markets.”

Medbio manufactures single-use, disposable products and is differentiated by its ability to serve as a one-stop shop for outsourced manufacturing, said the company.