Here are five things to know about the deal:
1. Medicom is a Denmark-based company that holds 90 employees. About 75 percent of its business lies in healthcare applications including medical devices, pharmaceutical packaging and drug delivery.
2. Phillips-Medisize recorded $620 million in corporate sales in 2015, with $355.4 million in injection molding sales from North America alone.
3. The acquisition will expand Phillips-Medisize’s end-to-end injectable and inhalation device offerings. The acquisition will also allow the company to tap into Medicom’s technology accelerator programs and early device development strategy systems.
4. Morten Nielsen, CEO of Medicom, and the current management team will stay in place and report to Bill Welch, Phillips-Medisize’s chief technology officer.
5. The transaction aligns both companies’ strategic focus on serving the rapidly growing diabetes, biologics, specialty pharmaceutical and personalized oncology markets that need their products.
The terms and amount of the transaction were not disclosed.
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