Phillips-Medisize to purchase Adval Tech assets in Mexico and China

US-based medical parts supplier Phillips-Medisize has entered into a definitive agreement with the Adval Tech Group to purchase, for an undisclosed amount, two manufacturing operations in Suzhou, China (Adval Tech Medical Suzhou) and Queretaro, Mexico (Omni Manufacturing Services). The transaction is expected to close subject to receipt of final regulatory approvals.

The Suzhou, China medical technology facility is both ISO 9001 and 13485 compliant and SFDA certified to manufacture finished drug delivery systems and related medical devices. The Queretaro, Mexico facility is both ISO 9001 and 13485 compliant and FDA registered to manufacture components and subassemblies, drug delivery systems and other related medical devices. The Mexico facility is also manufacturing injection molded components and decorative components for automotive and consumer applications.

Also, as part of the acquisition, Phillips-Medisize will be expanding its drug delivery development engineering capabilities with the addition of three Swiss engineers.

Phillips-Medisize plans to retain all approximately 350 employees from both operations, which will ensure continuity for all existing customers of these operations. This will also position Phillips-Medisize to begin servicing its global customer base from these locations immediately.

(IMA)

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