Steris has global sales of about $5 billion and more than 17,000 employees. Its operations include injection molding.
In another deal involving medical device OEMs, SunMed Group Holdings LLC, a Walker, Mich.-based maker of anesthesia and respiratory medical devices, is paying $110 million in cash for the respiratory health business of Avanos Medical Inc., a medical technology firm based in Alpharetta, Ga. The purchase price was listed in a financial filing.
The deal covers Avanos' Ballard, Microcuff and endOclear brand of closed suction catheters, endotracheal tubes and oral care products. SunMed will also buy two Avanos manufacturing plants in Mexico and R&D expertise supporting the brands.
"Adding these complementary brands into our growing portfolio solidifies SunMed's leadership as the premier manufacturer of the anesthesia and respiratory consumables," SunMed CEO Hank Struik said.
SunMed has manufacturing and distribution locations in the U.S., Mexico, China and Europe that make anesthesia and respiratory care products. SunMed most recently acquired Mettawa, Ill.-based Vyaire Medical Inc.'s consumables unit that makes products used in airway management and operative care.
The latest deal comes after publicly traded Avanos in January initiated a three-year initiative that included transforming the company's product portfolio. Since 2021, SunMed has been a portfolio company of Frazier Healthcare Partners.
In a deal involving a well-known custom injection molder, Natech Plastics Inc. was acquired for $30 million by Stratec SE, a publicly held firm based in Birkenfeld, Germany.
Natech, headquartered in Ronkonkoma, N.Y., designs and produces polymer-based consumables for customers in medical technology, in-vitro diagnostics, life sciences, consumer goods and specialist packaging. The firm has production capacities for injection molding and assembly, including clean room production.
Natech posted sales of $16.3 million in 2022 and has posted double-digit sales gains in each of the last three years. Stratec CEO Marcus Wolfinger said Natech's complementary product and customer portfolio and new target markets "make it a perfect addition to [Stratec's] business model, which focuses on OEM partnerships."
The acquisition gives Stratec a U.S. production site. Wolfinger added that Stratec intends to expand the site to include system production.
Natech employs more than 70. In July 2022, the firm installed three new injection molding machines at its plant in Ronkonkoma.
Stratec designs and makes fully automated analyzer systems for clinical diagnostics and life sciences, as well as consumables for diagnostic and medical applications.
In the fourth medical plastics deal of that two-week period, Scottsdale, Ariz.-based contract manufacturer Arterex Medical Device Inc. acquired NextPhase Medical Devices LLC for an undisclosed price. The acquisition "is transformational and provides highly complementary manufacturing and assembly capabilities to the Arterex platform," Charles Stroupe, chairman of Arterex, said.
Carlo Colesanti, president and CEO of NextPhase, will stay on to work from the company's New Hampshire and Massachusetts locations.
London-based private equity firm Investindustrial created Arterex in 2022 when it purchased Formula Plastics Inc. — based Tecate, Calif., with production 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 multicapability medical device contract manufacturer with an industry-leading management team," officials 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 employs almost 900 at four facilities, totaling about 379,000 square feet of production space, in Italy, Mexico and Egypt. It opened a headquarters office in Scottsdale earlier this year.
NextPhase makes electromechanical devices, implantable devices and single-use disposables in North America. It also provides design, engineering, manufacturing, assembly and supply chain services. NextPhase was launched in 2018, when private investment firm Kidd & Co. LLC acquired Nexcore Technology LLC and Phase 2 Medical Manufacturing Inc.
