Scottsdale, Ariz.-based contract manufacturer Arterex Medical Device Inc. has agreed to acquire NextPhase Medical Devices LLC.
Carlo Colesanti, president and CEO of NextPhase, will stay on to work from the company's New Hampshire and Massachusetts locations, Andrea Siy, president of Siy Communications Inc., told Plastics News in an emailed statement.
"This acquisition is transformational and provides highly complementary manufacturing and assembly capabilities to the Arterex platform," Charles Stroupe, chairman of Arterex, said in a June 14 news release.
"With a significantly diverse customer base across North America and Europe, [we are] well-positioned to continue our global growth strategy," he added.
Terms of the deal, which is subject to customary approvals, were not disclosed.
London-based private equity firm Investindustrial created Arterex in 2022 when it purchased Formula Plastics Inc. — which was legally incorporated in Tecate, Calif., but does manufacturing a few miles away in Tecate, Mexico — and Italian firms Kabo srl, Luc & Bel srl and Modenplast srl.
The acquisition of NextPhase supports the group's goal "to build a global multi-capability medical device contract manufacturer with an industry-leading management team," the news release said.
The deal doubles the size of Arterex. When the deal closes, it will have seven facilities with 70 percent of its sales generated in the United States.
Arterex currently has about 884 employees at four facilities, totaling about 379,000 square feet of production space, in Italy, Mexico and Egypt. It opened a headquarters office in Scottsdale, Ariz., earlier this year.
NextPhase manufactures class II and III complex electromechanical devices, active implantable devices and single-use disposables in North America. It also provides design, engineering, manufacturing, assembly, quality and regulatory, and supply chain management services.
The New England contract manufacturer was launched in April 2018 from private investment firm Kidd & Co. LLC acquired Nexcore Technology LLC and Phase 2 Medical Manufacturing Inc.