Medplast (Tempe, AZ) has made another acquisition—the second in three months—announcing the purchase yesterday of Coastal Life Technologies (San Antonio, TX). Specialized in the contract design, engineering, assembly, manufacture and packaging of single-use surgical devices, Coastal Life Technologies is seen as a key contributor to furthering Medplast’s ambition of becoming the “first end-to-end contract manufacturing services provider in the medical device industry,” said Bill Flaherty, President, Medical Device Solutions.
In addition to bolstering MedPlast's finished device assembly capabilities, the acquisition expands its manufacturing footprint to 23 facilities with the addition of Coastal Life's new, state-of-the-art 135,000-square-foot plant in San Antonio.
This purchase follows the acquisition of the Device Manufacturing Services business of Vention Medical (Plainfield, NJ) in February of this year. Vention Medical specializes in molded components and finished device assembly and packaging for the interventional and minimally invasive surgical markets.
Medplast laid the groundwork for the buying spree six months ago, when it partnered with two investment firms: Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry, and JLL Partners, a middle-market private equity firm.
Coastal Life President David Huff will continue to lead his company’s operations, reporting into Flaherty.
Financial terms of the agreement were not disclosed.