Helix Medical buys stake in Irish medical company

Published: August 13, 2012 6:00 am ET

Related to this story

Topics Medical, Mergers & Acquisitions, Injection Molding

CARPINTERIA, CALIF. (Aug. 13, 2:30 p.m. ET) — Injection molder and medical device contract manufacturer Helix Medical LLC is taking a 50 percent stake in a second Irish medical manufacturing company headed by Ireland medical entrepreneur John O’Shaugnessy.

The Carpinteria, Calif., company announced Aug. 13 that it intends to acquire a 50 percent stake in Cambus Medical, which makes high precision hypodermic tubes and micro-component solutions for advanced catheter systems at its plant in Spiddal, outside Galway.

Just two years ago, Helix acquired a 50 percent stake in Irish specialty catheter systems and extruded medical tubing manufacturer VistaMed Ltd., which is based in Carrick-on-Shannon and has two plants in Ireland. O’Shaugnessy is chairman of both companies and sold a previous medical company he founded to Abbott Laboratories in 2001.

Under the agreement, which is expected to be completed by January, Helix will invest in an expansion of the capabilities of the Cambus plant, which would expand its workforce from 50 to 85 by the end of 2013.

The plant’s current manufacturing capabilities include injection molding, EDM and ECM machining, laser precision cutting, laser welding and marking, assembly and packaging.

Helix said the partnership with Cambus Medical will allow Helix Medical to offer a full range of components and design and manufacturing services for minimally invasive surgery devices. Hypodermic tubes are a critical component of catheter systems for diagnostic and therapeutic interventions.

“Cambus adds another key technology component to our portfolio and represents an important milestone in our long-term strategy to build a comprehensive global organization that serves as a strategic partner to medical device manufacturers,” said Jorg Schneewind, president and CEO of Helix Medical, in a news release.

Helix Medical has the three manufacturing plants in Ireland, U.S. plants in Carpinteria and Baldwin Park, Calif., and Gloucester, Mass., plants in Kaiserslautern, Germany, and Shenzhen, China, as well as a $4 million medical components plant in Alajuela, Costa Rica, which opened earlier this year. That plant has a Class 8 clean room for silicone extrusion and molding and thermoplastic molding and a Class 7 clean room for assembly.

Cambus Medical, founded in 2006, develops and manufactures hypodermic tubes and catheter shafts used in angioplasty balloon catheters and stent delivery systems.

Helix Medical is part of the privately held German-based Freudenberg Group, which employs over 37,000 people in 58 countries.

Helix was formed in 1984 and bought in 2006 by Freudenberg-NOK GP, the U.S.-based joint venture of Freudenberg and Japan’s NOK Inc. Helix Medical was carved out of that joint venture and now is 100 percent owned by Freudenberg.

Freudenberg has grown through acquisitions in the medical market, starting in 2004 with its purchase of Jenline Industries Inc., a U.S. maker of liquid silicone rubber products for the medical-device and health-care markets. Freudenberg added Helix Medical in 2006, followed by Anura Plastics Engineering Corp. in 2008. The medical businesses of those U.S. companies have been integrated into one company — Carpinteria, Calif.-based Helix Medical LLC.


Comments

Helix Medical buys stake in Irish medical company

Published: August 13, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Amcor buys Chinese flexible packaging plant

December 18, 2014 1:47 pm ET

Australian-based global packaging company Amcor Ltd. is buying a Chinese flexible packaging business for 211 million RMB (US$31.4 million).    More

Image

Indian auto parts maker set to buy assets in Germany, Mexico

December 18, 2014 10:35 am ET

Indian auto parts maker Samvardhana Motherson Gropup is buying the assets of insolvent German plastics car parts producer Scherer & Trier (S&T).    More

Image

Sweden's Indutrade buys Belgian packaging firm Verbeek

December 18, 2014 9:42 am ET

Sweden's Indutrade AB has purchased all the shares in Belgium's Verbeeck Packaging Group.    More

Image

Röchling buys two UK firms

December 18, 2014 9:24 am ET

Germany's Röchling Engineering Plastics SE & Co. KG has expanded its presence in the high-performance plastics market by acquiring two British firms...    More

Image

Milacron opening Mexico technical center, considers another in Brazil

December 16, 2014 12:58 pm ET

Milacron LLC plans to officially open a new technical center in Querétaro, 140 miles northwest of Mexico City, early in 2015, and the company is consi...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events