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The medical device manufacturer Medbio announced the takeover of the other contract manufacturer Polymer Conversions earlier this month.
Company employees said the deal would expand their geographic footprint, create commercial and operational synergies and new opportunities “through an attractive base of blue-chip medical device customers.”
Medbio, a subsidiary of on-site investment firm Graham Partners in Grand Rapids, Michigan, provides clean room injection molding of plastic components for the medical and biotech sectors. Polymer Conversions, headquartered in Buffalo, New York, provides comprehensive, value-added thermoplastic injection molding and assembly services.
Medbio officials said the combined company would create a “medical device leader”.
“I look forward to working with the PCI team to expand Medbio’s manufacturing capabilities while reaching new customers and end markets,” said Chris Williams, CEO of Medbio, in a statement.
The terms of the contract were not disclosed. The transaction follows Medbio’s acquisition of another Michigan contract manufacturer, AIM Plastics, earlier this year.
Photo credit: Courtesy of Medbio, Inc.
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