Medical device and sterile packaging manufacturer UFP Technologies Inc. has acquired AQF Ltd., doing business as AQF Medical, which develops and manufactures foam and thermoplastic components used in a wide range of medical devices and packaging.
"We are excited about the addition of AQF Medical, our fourth acquisition in the past few months," R. Jeffrey Bailly, chairman and CEO of UFP Technologies, said in an Aug. 26 news release. "AQF Medical, with their excellent leadership team and strong reputation, brings significant value to our medtech platform."
Navan, Ireland-based AQF Medical also has joint venture operations in Singapore,
"[AQF's] expertise in converting specialty foams and films, and their strategically located factory for the MedTech market, give us the expanded European manufacturing presence our clients have requested," Bailly said. "Their joint venture facility in Singapore will enable us to support the Asian market locally."
"We have a deep understanding of their processes and materials as our companies have served similar segments and applications for years," he added. "We share numerous clients and their talented leadership team will be instrumental in continuing our international growth."
UFP did not immediately respond to requests for comment by Plastics News.
"We are extremely pleased to join the UFP family and look forward to working together to create new opportunities that will be mutually beneficial to our worldwide client base," Seamus Fagan, managing director of AQF Medical, said in the release. "UFP's engineering capabilities will enhance our offering to existing customers and we anticipate that our local knowledge will enable us to identify new clients in both Europe and Asia."
Newberryport, Mass.-based UFP Technologies designs and custom manufactures single-use and single-patient medical devices and components, sterile packaging and other custom products used in a wide range of medical devices and packaging for minimally invasive surgery, infection prevention, wound care, wearables, orthopedic soft goods and orthopedic implants.