Integer Holdings Corp. (Frisco, TX) has completed the previously announced sale of its Advanced Surgical and Orthopedics (AS&O) product line to MedPlast LLC (Tempe, AZ) for $600 million in cash.
MedPlast also announced that it will rebrand its business under the name Viant and that it will move its corporate headquarters to Foxborough, MA, in proximity to a major medtech hub.
Integer describes itself as one of the largest medical device outsource manufacturers in the world serving the cardiac, neuromodulation, orthopedics, vascular, advanced surgical and portable medical markets. The company's brands include Greatbatch Medical, Lake Region Medical and Electrochem.
|MedPlast CEO Brian King.|
Integer’s AS&O capabilities will bolster MedPlast’s portfolio of manufacturing services for medical device OEMs. In addition to expanding MedPlast’s offering into a broad range of metals manufacturing capabilities, including machining, stamping, coating and metal forming, it will further strengthen MedPlast’s front-end design, development and prototyping services. The acquisition will double its size to nearly $1 billion in sales, as well as its global footprint, with an expanded presence in Europe, said MedPlast.
MedPlast includes injection, compression and blow molding, blow-fill-seal and silicone extrusion technologies in its portfolio of services for 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 services.
Integer’s AS&O business is MedPlast’s third acquisition in the past couple of years. In 2017, it acquired Vention Medical’s Device Manufacturing Services business and Coastal Life Technologies to extend services into assembly and packaging. The strategic acquisitions follow MedPlast’s partnership in 2016 with Water Street Healthcare Partners and JLL Partners, two strategic investment firms specializing in the healthcare industry.
“MedPlast is incredibly excited about the addition of Integer’s AS&O capabilities to our existing platform,” said MedPlast CEO Brian King. “This acquisition will further broaden our offerings and strengthen our ability to provide our customers with innovative solutions to meet their challenging needs. It also will provide additional scale and new growth opportunities for MedPlast. We are excited to be working with the AS&O team and look forward to collectively growing our company and continuing to deliver outstanding service to our customers.”