Swedish company Alleima has acquired Germany-headquartered Endox, a manufacturer of medical components, along with its manufacturing unit in Bielsko-Biala, Poland.
Endox develops and supplies nitinol and stainless-steel products and components across fields such as urology, gastroenterology, and endoscopy. Its portfolio includes guidewires, polypectomy snares, and stone retrieval baskets. The company also reported 2023 revenues of approximately $6m.
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Alleima produces precision medical wires for medical devices including hearing aids, cochlear implants, insulin pumps, and brain implants. By acquiring Endox’s portfolio, certifications, and existing customer base, Alleima said that its addressable market will be expanded and that it expects the combined capabilities and footprint to drive new product development and geographic sales expansion.
Pending customary approvals, the deal, the purchase price of which the companies have mutually agreed not to publicly share, is anticipated to be completed in the first quarter of 2025.
Alleima’s president and CEO Göran Björkman said: “In line with our strategy for profitable growth and increased resilience, we are focusing on growing stable and profitable sectors such as the medical segment.
“This will further strengthen our premium position in the medical segment.”
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By GlobalDataRobert Stål, president of Kanthal, a subsidiary of Alleima that provides materials for electric heating, temperature sensing and heat-resistant applications, said: “The acquisition will enable us to enhance our medical offering as it will broaden our capabilities and expand our product portfolio in wire-based catheter applications, bringing added value to our customers and further strengthening our market position.”
According to GlobalData analysis, the global endoscopy devices market was valued at around $15.76bn in 2023 and is forecast to reach a valuation of around $28.9bn by 2033.
In other medtech deal news, Sonic Healthcare signed a binding agreement earlier this week to acquire Germany-based Laboratory Group Dr Kramer & Colleagues (LADR) for €423m ($446.9m).
