Staunton Va.-based medical and drug delivery supplier Cadence Inc. has acquired Utitec Inc., a manufacturer specializing in miniature, deep-drawn metal medical device and commercial components.
Utitec is headquartered in Watertown, Conn. and has a medical facility in Alajuela, Costa Rica.
"Acquiring Utitec better positions Cadence to lead the medical device contract manufacturing industry through investment, innovation, and faster growth to best meet our customers' evolving needs," Rob Werge, Cadence president and CEO, said in a Jan. 3 news release.
There will be no changes to Utitec's management team or workforce, Beth Alltop executive projects and communications manager at Cadence told Plastics News in an emailed statement.
Cadence declined to comment on the terms of the acquisition.
Cadence has injection molding, reel-to-reel molding, machining and in-house protoyping operations. The acquisition follows a 2022 expansion of Cadence's Cranberry Township, Pa., manufacturing facility and the 2020 addition of Class 8 clean room in Virginia.
"We look forward to leveraging the company's deep expertise in miniature, high-precision components for medical devices, while expanding our capabilities to include deep draw and additional clean room assembly capacity in Costa Rica to support new and transfer products for our customers," Werge added.
Utitec's deep draw capabilities are lower cost than conventional machined parts due to reduced labor and high-volume throughput, the release said.