Phillips-Medisize agrees to buy Injectronics

4 July 2016 (Last Updated July 4th, 2016 18:30)

US-based medical device company Phillips-Medisize has agreed to acquire contract engineering and manufacturing services provider Injectronics.

US-based medical device company Phillips-Medisize has agreed to acquire contract engineering and manufacturing services provider Injectronics.

The terms of the transaction have not been disclosed.

Following the acquisition, Phillips-Medisize will establish two manufacturing locations in the Northeast of the US as the hubs of biopharmaceutical and medical device innovation.

"This transaction is consistent with our strategic focus to further broaden our reach into the Northeastern US, and will enable us to better serve our biopharmaceutical and medical device customers."

Phillips-Medisize will retain the current management team to continue overlooking Injectronics' Clinton and Westborough locations in Massachusetts, which will continue to serve existing customers.

Phillips-Medisize president CEO and chairman Matt Jennings said: "Injectronics has a very strong track record of delivering excellent quality service to their diagnostics and medical device customers, and adding their expertise will further solidify our position as an industry leader.

"This transaction is consistent with our strategic focus to further broaden our reach into the Northeastern US, and will enable us to better serve our biopharmaceutical and medical device customers.

"Our two companies have similar cultures, and we admire Injectronics' commitment to investing in their people, processes, and purpose-built facilities."

Phillips-Medisize offers design and manufacturing services to the drug delivery and combination products commercial market.

Upon completion of the transaction, the company will house more than 3,900 people in 17 production locations across the US, Europe, Mexico and China.