Technimark expands medical injection molding footprint with Ci Medical buyTechnimark expands medical injection molding footprint with Ci Medical buy
Technimark (Asheboro, NC), a global manufacturer of custom rigid plastic packaging and components, has announced its acquisition of Ci Medical Technologies, a specialty medical component manufacturer headquartered in Latrobe, PA, from Altaris Capital Partners. The purchase price was not disclosed. The acquisition accelerates Technimark's growth in the medical injection molding market, said Technimark CEO Brad Wellington.
December 8, 2015
Ci Medical specializes in product development, scientific molding, contract manufacturing, assembly, packaging and logistics with a focus on cost effectiveness and quality. It produces insulin pumps, surgical tools and other specialized devices.
Technimark's acquisition of Ci Medical will expand the manufacturing capabilities and global footprint for customers of both companies, leveraging Technimark's culture of product innovation and technical excellence with Ci Medical's scientific and healthcare manufacturing expertise, noted the press release. Technimark is a Pritzker Group company.
Ci Medical was founded in 1971 as Classic Industries Inc. As the company grew at its Pennsylvania headquarters, it specialized in injection molded components for medical, pharmaceutical and healthcare applications worldwide. Today it has more than 550 employees at five facilities in Pennsylvania, Texas, Mexico, Puerto Rico and the United Kingdom. The combined company will have 14 facilities throughout the world, including Germany and China.
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