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Photo by Phillips-Medisize Phillips-Medisize posted total corporate sales of $620m (€547m) in 2015, with $355.4m (€314m) coming from North American injection moulding.
Medical injection moulder Phillips-Medisize is being acquired by Molex LLC, a global manufacturer of electronic, electric and fibre optic systems, in a deal announced 17 August.
Terms of the deal, expected to close this fall, were not disclosed.
The sale comes a little more than two years after Hudson, Wisconsin, US-based Phillips-Medisize was purchased by private equity firm Golden Gate Capital.
“Molex’s global scale in electronics, coupled with Phillips-Medisize’s strength in designing and manufacturing innovative products for medical device customers, will help us become a global leader in connected health solutions,” said Phillips-Medisize chairman, president and CEO Matt Jennings in a news release.
Phillips-Medisize had total corporate sales of about $620m (€547m) in 2015, with $355.4m (€314m) of that coming from injection moulding in North America, placing the company at No. 18 in PNE's sister publication Plastics News' most recent ranking of injection moulders.
The purchase is not the first foray into medical devices for Molex. The company acquired Irish custom medical injection molder ProTek Medical in May 2015.
“Phillips-Medisize has a talented, experienced and innovative team that has strong customer relationships because of its outstanding ability to serve the unique needs of the medical solutions market,” said Tim Ruff, senior vice president of business development and corporate strategy for Molex in a release. “Combined with Molex’s expertise in electronics and broad global manufacturing presence, we are confident that together we can significantly expand our medical solutions capabilities globally.”
Phillips-Medizise has been on a acquisition tear of its own lately, extending its global manufacturing capabilities to the Northeastern United State with the purchase of Injectronics, 30 June and breaking into Denmark with the 1 June announcement it was buying Medicom Innovation Partner A/S, both for undisclosed amounts.
Phillips-Medizise employs more than 3,900 at 17 production locations in the United States, Europe, Mexico and China. It also has a global design network with hubs in Hudson, Suzhou, China and Stuer, Denmark.