Medical device component manufacturer Vonco Products has completed the acquisition of McFarlane Medical.
The acquired company is a contract manufacturer of Class I and Class II medical devices with a focus on assembly and packaging solutions.
It also provides turnkey product outsourcing to clients, including programming, assembly, clean room, sterilisation and distribution.
Vonco Products president and CEO Keith Smith said: “Many of our customers have expressed support for Vonco’s two-fold mission to create more value whilst reducing risk.
“We appreciate their confidence in us, and with this acquisition, we are able to broaden our contract manufacturing offerings – both for our medical device and consumer products customers.”
McFarlane Medical owner Matthew McFarlane said: “McFarlane Medical places great value on culture, passion and excellence.
“In partnering with Vonco we see extraordinary synergies with tremendous opportunities to expand our capabilities, depth of expertise and to foster growth all while continuing to drive quality and patient focus.”
In a separate development, US-based home medical equipment company Protech Home Medical has executed a non-binding letter of intent (LoI) to acquire a private respiratory care company for an unknown sum.
The target company is a key player in the respiratory homecare services industry in the midwestern US.
Through the acquisition, Protech expects to strengthen its presence in the midwest. It will also mark the company’s entry into a significantly large new market and increase its annual revenues by almost $5m.
Protech chairman and CEO Greg Crawford said: “The acquisition would be immediately accretive to Protech’s EBITDA and overall profitability and would continue to build scale on the top line, which has now reached a run-rate of $100m.
“We will use our operational expertise, leveraging our first-rate infrastructure to achieve profit growth through our integration platform. We will continue to be active on the acquisition front as we focus on increasing market penetration in our existing markets and adding new markets into the system.”
The transaction is expected to be closed in the next 30 days.