Tekni-Plex, which is based in Wayne, Pa., and operates in both health care and consumer packaging, has a definitive agreement for the purchase of the medical device maker that "enhances the company's materials science and process technologies for minimally invasive and interventional therapy devices on a global scale," the company said.
Seisa, based in El Paso, Texas, employs more than 2,000 people at four locations in the United States, Mexico and Slovakia, Tekni-Plex said.
The company calls itself a contract manufacturer of medical devices and components with capabilities including injection molding, extrusion, laser cutting and welding, mold making, prototyping, catheters, balloon forming.
The company makes medical devices and provides services all along a product's life cycle, including design and development, component manufacturing and final assembly, Tekni-Plex said.
"This is a transformative acquisition for TekniPlex Healthcare, moving us squarely into the CDMO [contract, development, and manufacturing organization] segment of MedTech for medical technologies," said Chris Qualters, CEO of TekniPlex Healthcare, in a statement.
"The ability for us to engage with our global customers on new medical technologies by developing engineered materials, co-designing components and assemblies, utilizing advanced process technologies and providing sterile barrier products allows us to truly partner with them from concept all the way to the point of care to help improve patient outcomes," he said.
Julio Chiu founded Seisa in 1983.
"We believe the combination of our two organizations will result in one of the most comprehensive value-added CDMO platforms in the industry," he said in a statement.
"Our customers count on us to deliver solutions for their most challenging applications. I am very confident that they will continue to count on us as TekniPlex Healthcare shares our same commitment to deliver better patient outcomes," Chiu said.
The deal requires regulatory approval, Tekni-Plex said.
Seisa Medical acquired two San Francisco Bay area companies in 2021: Peridot Corp., which supplies metal-based components and mechanical assemblies to the medical market, and prototype part supplier ProtoQuick Inc.
TekniPlex Healthcare also is building a $46 million manufacturing plant in Madison, Wis., that is scheduled to open by early 2024.