MedPlast Inc, which is backed by JLL Partners and Water Street Healthcare Partners, has closed its previously announced acquisition of Vention Medical‘s device manufacturing services business. No financial terms were disclosed.
TEMPE, Ariz., March 31, 2017 /PRNewswire/ — MedPlast, Inc., a global services provider to the medical device industry, announced today that it has completed its acquisition of Vention Medical’s Device Manufacturing Services business. The acquisition broadens MedPlast’s manufacturing capabilities and bolsters its position as a leading services provider to the world’s largest original equipment manufacturers.
“This acquisition is a first and important step in our strategic plan to expand our offering to customers,” said Harold Faig, chief executive officer, MedPlast. “Our goal is to build on our core manufacturing and engineering capabilities to provide our customers with a comprehensive portfolio of end-to-end product solutions.”
MedPlast’s acquisition of Vention Medical’s business comes three months after the company partnered with two investment firms to expand its suite of services. Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, and JLL Partners, a middle-market private equity firm, invested in MedPlast in December 2016.
MedPlast is a global services provider to the medical device industry. The company offers a range of engineering and manufacturing capabilities that support the world’s leading original equipment manufacturers with producing diagnostic, orthopedic, surgical and other medical products. Headquartered in Tempe, Ariz., the company operates 11 ISO-certified facilities around the world. For more information about MedPlast, visit medplastgroup.com.
About Vention Medical
Vention Medical is a global integrated solutions provider with more than 30 years of experience in design, engineering and manufacturing of complex medical devices and components. Vention Medical specializes in molded components, and finished device assembly and packaging for the interventional and minimally invasive surgical markets.
Visit Vention at ventionmedical.com.