Continuing its push into a bigger share of the medical plastics market, Nypro Inc. has entered a definitive agreement to buy Schlosser Medizintechnik GmbH of Knittlingen, Germany.
Schlosser employs 150 in a 170,000-square-foot plant that includes Class 7 and Class 8 clean rooms. The company was founded in 1969 and supplies plastic parts to medical original equipment customers in Germany, France, Switzerland and the surrounding areas.
“Schlosser's customers include many of the best-known medical-device companies in Europe,” said Ted Lapres, president and CEO of Clinton, Mass.-based Nypro, in a news release.
”We look forward to supplying these customers with the world-class diagnostic manufacturing technology for which Schlosser is a leader.”
Nypro will buy 100 percent of Schlosser. Terms of the deal were not disclosed.
The company is buying Schlosser from Peter Pronath, the president and general manger, who bought a 50 percent stake in the company in 1978 and the remainder in 1988. Pronath will stay as general manager through June, the end of the fiscal year.
Schlosser makes pipettes, cuvettes, trays and other products. It specializes in high-speed, automated plastics manufacturing including injection molding, assembly and tooling.
The company does not disclose its sales figures.
Ray Grupinski, president of Nypro Healthcare, said Schlosser will provide Nypro with a strong central European platform on which it can grow target accounts globally.
Nypro and Schlosser have worked together for more than a year identifying market- and technology-based synergies.
This acquisition follows several other projects at Nypro in the past few weeks that emphasize the company's strong and growing medical business. Three weeks ago, Nypro Healthcare hosted an event to mark the expansion of its French Healthcare facility.
Nypro announced Oct. 4 that it is working with Novo Nordisk A/S to make a next-generation injectable-insulin pen. For its part of the project, Nypro is adding 75,000 square feet of space onto its health-care plant in Asheville, N.C., and adding 33 injection molding machines with 10 automated printers. Investment in that project totals $82 million.