Technimark has acquired Ci Medical Technologies from Altaris Capital Partners
Ci Medical is a manufacturer of injection-molded components, assemblies and devices used in the medical, pharmaceutical and consumer healthcare markets.
Brad Wellington, CEO of Technimark, said: “The acquisition of Ci Medical accelerates Technimark’s growth in the healthcare and medical markets.”
As part of the acquisition Technimark will establish a new commercial division, Technimark Healthcare which the company has said will focus on servicing Healthcare and Medical customers.
The combined company will have 11 sites throughout the world including the United States, Germany, Mexico, China, Puerto Rico and the United Kingdom.
Ci Medical specialises in product development, scientific molding, contract manufacturing, assembly, packaging and logistics, with a focus on cost effectiveness and quality for the medical industry according to Technimark.
Operations at Ci Medical meet applicable ANSI and ISO standards and FDA regulations for the manufacture of its medical products including insulin pumps, surgical tools and other specialised devices.
Kris Peavy, SVP of sales for Technimark, said: “By combining Technimark’s innovative technology-based offering, strong balance sheet and global scale with Ci’s medical market experience, infrastructure and operational capabilities across a wide range of pharmaceutical and medical products we are uniquely positioned to offer our customers more value than ever before.”
The purchase price of Ci Medical was not disclosed.