Wales-based Flexicare Group Ltd. has acquired Medisize BV, a manufacturer of airway management products with operations in the Netherlands and subsidiaries in Germany and Italy, from an affiliate of Phillips-Medisize LLC.
Terms of the deal were not disclosed but it was noted that the acquisition does not include any of the contract manufacturing and design consultancy businesses of Phillips-Medisize in the Netherlands, Czech Republic or elsewhere.
The deal, which was announced Nov. 20, is expected to bolster Flexicare's product portfolio and its presence in Europe through Medisize's sales and distributions networks. The acquired business specializes in supplying and distributing respiratory and anaesthesia products for critical care, neonatology, emergency, home care and radiology.
Mountain Ash, Wales-based Flexicare, a privately owned manufacturer and supplier of medical devices, currently has a presence in more than 100 countries through distributors and subsidiaries in the United States, Middle East, India, China, Japan, Australia and Malaysia. Managing Director Hash Poormand said the acquisition underscores Flexicare's commitment to be a leader in the European market.
"The rapid organic growth that we have enjoyed, as a result of our innovative product portfolio and recent acquisitions, will give us further reach and the combination of the two companies will increase the value Flexicare and Medisize BV deliver to its customers and end users," Poorman said in a news release.
"The acquisition is expected to immediately accelerate revenue growth and drive overall earnings growth potential for Flexicare's wider range of anaesthesia and airway management products, truly exciting times ahead," he said.
Matt Jennings, CEO and President of Phillips-Medisize described the deal as "very positive" for both companies.
Phillips-Medisize is a Molex company, which is a global outsource provider of design and manufacturing services for drug delivery, consumable diagnostics and medical devices. The business is backed by Molex and its parent company Koch Industries.