Medical contract manufacturer Spectrum Plastics Group (Alpharetta, GA) has announced the acquisition of Earnan Biomedical Ltd. (Wexford, Ireland), a company specialized in the development of medical balloon technologies and solutions. It is the first acquisition of Spectrum Plastics since it acquired Fermatex Vascular Technologies, better known as Adam Spence, in May 2018. Both transactions support its vascular technologies business, a focus of growth for the company.
Earlier this year, Spectrum Plastics struck a joint marketing agreement with Earnan, offering quick-turn, off-the-shelf stock balloons through its Apollo web store. Over the last several months, the companies' alignment between their respective technical solutions for customers in the catheter systems market has compelled a more formal agreement, said Spectrum in a news release.
Earnan specializes in the design, development and manufacture of custom balloon-forming technologies. Its capabilities include textured and non-textured balloons across a variety of materials, including nylon, polyurethane and polyester. Additional developments include multi-layered balloon designs and high-pressure products. The company’s products are deployed in cardiovascular, gastrointestinal, nutrition, neurovascular, wound care and orthopedic applications.
Spectrum Plastics said that it will retain the Earnan name as its balloon solutions brand, which will be marketed as Earnan Balloons by Spectrum Plastics Group. Colin Sutherland, the head of Earnan Biomedical, will remain with Spectrum Plastics as Vice President of Balloon Technologies and direct the Wexford center of excellence for balloon innovation, which will become part of Spectrum Plastics’ Vascular Technologies division.
Neil Shillingford, Spectrum Plastics CEO, remarked, "It is my pleasure to welcome Colin and Earnan to the Spectrum Plastics Group. Its balloon technology is without peer and will no doubt advance the solutions we provide to our customers and their next generation catheter delivery systems.”
Spectrum Plastics operates plants across the United States, Mexico, Costa Rica, Ireland and Malaysia. The company describes itself as a North American leader in the design and fabrication of custom and specialty plastic products focusing on niche, high value-added end markets, including the medical, food and defense sectors. Certified to ISO 13485, the company operates multiple Class 7 and Class 8 cleanrooms.
The current iteration of Spectrum Plastics was formed in 2017, when private equity firm Kohlberg & Co. LLC acquired Pexco, a supplier of injection molding and extrusion services to medical device OEMs for more than 50 years, and merged it with PPC Industries and Kelpac Medical. At that time, PlasticsToday reported that the Spectrum Plastics Group name belonged to the Pexco portfolio of brands as a result of its acquisition of the Minneapolis-based precision injection molder in 2013. Kohlberg then relaunched it in 2017.
Commenting on the new name and brand for the entire operating unit in an article reporting on the formation of the new Spectrum Plastics, Mauricio Arellano, President of the medical division, said, “We now bring a full spectrum and in most cases unmatched set of specialty plastics capabilities to the medical device sector, so the opportunity to relaunch our brand, one with a long history in medical devices and strong brand equity with our customers, was compelling. It speaks precisely to our unique position within the medical device market and our ability to support our customers’ noble mission of restoring health for millions of patients worldwide.”