MANCHESTER, N.H. - Vacuum former and injection molder Poly Vac Inc. will merge with surgical instrument maker Othy Inc. of Warsaw, Ind., to form Othex Holding Co., a $70 million medical and surgical supply business. Terms were not disclosed.
Included in the deal is a lease for a 112,000-square-foot manufacturing and office facility in Londonderry, N.H. Poly Vac intends to move its operations to that facility next month.
Poly Vac's products include sterilizable thermoformed surgical trays and cases. Late last year, the company also purchased five Nissei injection molding machines with clamping forces of 55-500 tons to manufacture a wider product line, including blood filtration devices.
John B. Byrd III, Othy's president and chief executive officer, and Donald G. Calder, its chairman, will hold their same positions with Othex. Neither was available for comment. John A. Brooks, the former orthotist who founded Poly Vac in 1985, was also not available for comment. Brooks will remain as chairman of Othex, but will assume a position of executive vice president for business development in the new company.
Poly Vac employs about 170 in New Hampshire. Othy, which employs 250 in Warsaw, supplies surgical instruments for hip, knee and other joint replacements and spinal surgery. That company will expand its manufacturing space by 38 percent following a production investment of $5 million during the past two years.