Furon Co. has bought two medical-device makers to bolster its Medex Inc. health-care division.
The Laguna Niguel, Calif.-based company bought catheter makers Scientific Device Manufacturer Inc. of San Raphael, Calif., and its affiliate, AS Medical GmbH of Fraureuth, Germany. Furon did not disclose the acquisition cost.
The deal closed Aug. 22 and includes both firms' entire assets, including customer lists, brand names and production sites, said J. Michael Hagan, Furon chairman and chief executive officer.
SDM and AS Medical manufacture polyurethane catheters, polycarbonate cardiology accessories, Teflon fluoropolymer catheter introducers and silicone valves.
The companies will operate as part of Furon's Columbus, Ohio-based Medex subsidiary.
Medex did not comment on whether it will retain all of SDM and AS Medical's 74 workers, but the Ohio company will work with the firms to ``get a better understanding on how to manage in the future,'' said Dominick A. Arena, vice president of Furon's health-care division. The units have combined sales of $7 million, which Arena said should triple in a year.
Medex plans ``immediate investments'' into the acquired companies with an initial capacity expansion at AS Medical's German plant, he said. He would not reveal details of that project.
The purchase stays with Furon's strategy of adding niche, polymer-based medical products with high growth potential to Medex's offerings, and to expand its international sales opportunities, Hagan said.
About 80 percent of SDM and AS Medical's sales are generated in Europe; the remainder come from the United States, according to Hagan.
A number of products marketed by SDM and AS Medical in Europe recently received marketing clearance from the Food and Drug Administration, Arena said.
Furon had 1997 sales of $390.1 million.