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MedPlast Inc. (Tempe, AZ) has signed a definitive agreement to acquire the Device Manufacturing Services business of Vention Medical (Plainfield, NJ). The acquisition will further expand MedPlast’s capabilities in assembly and packaging and grow its global footprint to 22 facilities in North and Central America, Asia and Europe.

PlasticsToday Staff

February 21, 2017

2 Min Read
MedPlast grows medical manufacturing capabilities, global footprint with acquisition 

MedPlast Inc. (Tempe, AZ), a provider of contract manufacturing services to the global medical device industry, has signed a definitive agreement to acquire the Device Manufacturing Services business of Vention Medical (Plainfield, NJ). Vention Medical specializes in molded components and finished device assembly and packaging for the interventional and minimally invasive surgical markets. 

The acquisition will further expand MedPlast’s capabilities in assembly and packaging, enabling it to offer customers a comprehensive suite of services producing a range of medical products, the company said in a press release. It also will extend MedPlast’s global footprint to 22 manufacturing facilities located in key markets throughout North and Central America, Asia and Europe. Once complete, the acquisition will more than double MedPlast’s size. The company will employ more than 3,500 engineers, technicians and assembly workers specializing in producing surgical, orthopedic, diagnostic and other medical devices.

MedPlast provides injection, compression and blow molding, blow-fill-seal and silicone extrusion technologies to medical device OEMs. The company also designs and builds medical molds at its New Jersey and Suzhou, China, locations and offers a vast range of medical device assembly and packaging sevices.

“This acquisition will significantly strengthen MedPlast’s leadership position in the medical device manufacturing industry,” said MedPlast Chief Executive Officer Harold Faig. “We will provide our customers a broad spectrum of integrated manufacturing capabilities and services from strategic locations around the world. This is something our customers have been asking for, and we are committed to continuing to expand our capabilities in areas that will bring value to our customers.” 

MedPlast’s acquisition comes two months after the company partnered with investment firms JLL Partners and Water Street Healthcare Partners to expand its offerings.

“This is the first of what we expect will be more strategic acquisitions to build MedPlast into a market leader,” said Kevin Swan, Partner, Water Street. The investment firms are “working closely with management to identify and pursue opportunities that will achieve MedPlast’s goal of offering customers a comprehensive, integrated portfolio of end-to-end product solutions,” added Swan. 

The transaction is expected to close in the second quarter of 2017. Financial terms of the agreement were not disclosed.

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