Anaheim, Calif. — Technimark LLC of Asheboro, N.C., used the Medical Design & Manufacturing West trade show in Anaheim as a coming out party for its new medical business.
The launch of Technimark Healthcare follows the December acquisition of specialty medical component maker Ci Medical Technologies Inc. of Latrobe, Pa.
“We have a big pipeline of growth to digest,” Brad Wellington, Technimark CEO, president and partial owner, said in an interview at MD&M in February. “We are integrating Ci with Technimark and project significant growth during 2016.” Technimark had 2015 sales of about $475 million.
Technimark named John Rugari as the health care division's vice president of sales. Previously, he was director of global business development for healthcare.
In addition to Asheboro, Technimark has legacy operations in Mexicali, Reynosa and Bajio, Mexico; Aachen, Germany; and Suzhou, China.
The integration involves linking with Ci Medical's sites in El Paso, Texas; Ponce, Puerto Rico; Durham, England; and Ciudad Juárez, Mexico, as well as Latrobe.
Technimark operated under private equity ownership from 2007-2014. The private capital arm of Chicago-based Pritzker Group took majority ownership in April 2014 and immediately approved a strategy for Technimark to expand in the healthcare market.
“In an organic initiative, we built clean rooms in Suzhou, Aachen and Asheboro over 18 months,” Wellington said.
Acquiring Ci accelerated the health care strategy. “They have deep experience in the medical field including regulatory and systems knowledge, extensive clean room capacity and a blue chip customer list,” Wellington said. “We liked the chemistry” and regard the acquisition as a “cornerstone platform addition.”
Technimark had supplied molds to Ci since 2010.
Wellington said, “The health care market is fragmented” and offers Technimark with potential growth opportunities.
In addition to health care, other Technimark operations serve the markets for packaging products, electronics, automotive, power tools, consumer products, furniture and textiles.