Film and sheet major Inteplast Group Ltd. has expanded its stake in the medical market by acquiring a firm that injection molds and thermoforms medical disposables.
Inteplast affiliate Medira Inc. completed the acquisition of Medegen Medical Products LLC on June 2, according to a news release issued by Medegen's former owner, Medical Action Industries Inc. of Brentwood, N.Y. Medira paid about $78.6 million for Medegen based in Gallaway, Tenn., and unspecified assets of Medical Action's Patient Care business unit.
Medegen's range of molded and formed plastic items includes patient utensils, carafes, nursing care kits, surgical kit components, wash basins, bedpans and disposable laboratory products such as petri dishes.
Medical Action announced an agreement for the sale in March. At that time Inteplast spokeswoman Brenda Wilson stated in a news release: “We value the technical expertise and market leadership of Medical Action. Their Patient Care business will greatly enhance Inteplast's existing portfolio of medical and hospital supplies.”
Inteplast officials were not immediately available to comment on how Medegen fits its business.
Inteplast was third largest film and sheet extruder in North America in Plastics News' 2013 survey of film and sheet companies. It logged an estimated $1.86 billion in film and sheet sales in 2012. The company is organised in three major divisions: AmTopp, a film extruder and producer of plastic concentrates; Integrated Bagging Systems, which makes a wide array of bags, gloves and cleaning supplies; and World-Pak, a diverse business making plastic board, corrugated sheet, foamed PVC sheet, laminated film and bags and Tuf Board synthetic wood.