Digital instrument and machine maker Ametek, primarily based in Pennsylvania, has acquired elements designer Paragon Medical from associates of American Securities for roughly $1.9 billion.
Ametek customizes cable assemblies and interconnect options that it provides to unique tools producers that design units in electrophysiology, neuromodulation, cardiac rhythm administration, affected person monitoring, surgical devices, peripheral vascular, and different areas.
With Paragon, which is headquartered in Indiana and has annual gross sales revenues of roughly $500 million, Ametek says it is going to have the experience to create extra elements for functions in orthopedics, minimally invasive surgical procedure, robotic surgical procedure, and drug supply.
“Paragon meaningfully expands our presence within the MedTech area and offers us entry to enticing new market segments with sturdy development charges,” stated Ametek chairman and chief govt officer David Zapico in an announcement.
Amongst Paragon Medical’s merchandise are biocompatible elements for surgical implants, together with surgical staples, screws, trauma nails, implantable springs, and implantable plastic supplies. It additionally designs surgical devices, reminiscent of information wires and biopsy options; instances and trays; drug supply programs; and specialty units.
Moreover, it helps OEMs within the strategy of bringing these options to the market whereas making certain that they adjust to ISO high quality requirements.
The deal is topic to customary closing circumstances, together with relevant regulatory approvals, and is the sixth acquisition the corporate has introduced this 12 months. It was made public on the identical day as its fifth acquisition of Amplifier Analysis Corp., a producer of electromagnetic compatibility (EMC) testing tools for medical markets, in addition to protection, communications, and automotive industries.
Based mostly additionally in Pennsylvania, Amplifier Analysis’s annual gross sales are roughly $60 million, and the corporate joins AMETEK as a part of its Digital Devices Group (EIG), which focuses on superior analytical, monitoring, testing, calibrating, and show instrumentation. The value of this deal was not disclosed.
“Their experience and functionality in amplifier design will enormously improve our capacity to offer a broader suite of options for enticing markets together with electrical car testing and protection communications,” stated Zapico.
The corporate has seen sturdy demand inside its EIG sector, with web year-over-year gross sales rising 5% to $1.62 billion. It additionally had better-than-expected Q3 earnings and raised its full-year revenue forecast to $6.31 to $6.33 per share, from $6.18 to $6.26 per share, reported Reuters.
Ametek didn’t reply to HCB Information for remark.
