On Aug. 31, Phillips-Medisize completed the previously announced acquisition of two manufacturing operations in Suzhou, China (Adval Tech Medical (Suzhou) Co. Ltd.) and Queretaro, Mexico (Omni Manufacturing Services S.A. de C. V.) from the Adval Tech Group of Niederwangen, Switzerland.
The sale of the properties is the result of a new strategy for Adval Tech, including more focus on its moldmaking businesses. FOBOHA is one of its companies.
The acquisitions pushed the rapidly expanding Phillips-Medisize into desired geographical locations: China and Latin America, giving it a global reach. Since acquiring Phillips Plastics in late 2010, investment company Kohlberg & Co. has been busy expanding tis footprint. The biggest move was the acquisition of Medisize in 2011.
The Suzhou, China medical technology facility is both ISO 9001 and 13485 compliant and SFDA certified to manufacture finished drug delivery systems and related medical devices.
The Queretaro, Mexico facility is both ISO 9001 and 13485 compliant, and FDA registered to manufacture components and subassemblies, drug delivery systems and other related medical devices. The Mexico facility is also manufacturing injection molded components and decorative components for automotive and consumer applications.
The new Chinese business will be officially launched at MEDTECH China 2013 in Shanghai on Sept. 25-26.
Phillips-Medisize has annual sales of just under $500 million with 75% of the total revenue coming from drug delivery, medical device and diagnostic products such as: disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single use surgical devices and consumable diagnostic components.