Nissha Medical Technologies has acquired a majority stake in micromolder Isometric Intermediate LLC.
Officials with Tokyo-based Nissha announced the deal on Dec. 4. It's expected to close by the end of the month.
The acquisition price was listed at a little less than $62.2 million. Isometric, based in New Richmond, Wis., employs 90 and posted sales of just under $20 million in 2022. The firm has been owned since late 2021 by executives Donna Bibber and Wayne Shakal.
Nissha officials added in a news release that the acquisition "aligns seamlessly with our mission to deliver high-quality, value-added products in the global medical device market."
"With Isometric's 30 years of expertise, specifically in micro-molding, we are poised to usher in a new era of innovation in the medical device industry," they said.
Isometric's proprietary tooling and process technologies for micro-molding "have positioned them as trailblazers" in achieving single micron tolerances, officials said. Its micro-formed products "have significantly contributed to the miniaturization of endoscopic and surgical devices, enhancing functionality and driving improved patient outcomes."
The Isometric deal is the third in less than two months for Nissha, which is a unit of Nissha Co. Ltd. In November, the firm acquired the medical chart business of Cardinal Health, as well as endoscopic device maker EndoTheia Inc. of Nashville, Tenn.
"The fusion of Nissha Medical, EndoTheia and Isometric's capabilities is a testament to our dedication to innovation, patient care, and sustainability," officials said. "This strategic move aligns with our long-term sustainability vision, and commitment to leverage enabling technology as a platform to advance patient care."
Isometric makes ultra-small plastic parts as small as 0.00004 grams and components for applications like robot surgical equipment, sensors, transdermal patches and neurovascular implants. It also builds its own molds and does microautomated assembly, micro 3D printing and computerized tomography scanning.
In late 2021, Isometric was operating 15 microinjection molding machines. The firm was founded as a traditional mold making company in 1990 before beginning to transition to micromolding in 2013 after Bibber joined the company. Prior to that, Bibber was a founding partner of MTD Micro Molding in Charlton, Mass.