Strengthens Franchise in Consumable Diagnostics Contract Manufacturing
Extends Footprint into Northeastern United States and Enhances Services to Biopharma, Consumable Diagnostics and Medical Device Customers
Hudson, WI and Clinton, MA - (June 30, 2016) - Phillips-Medisize
Corporation (the “Company”) today announced that it has agreed to
acquire Injectronics, Inc (“Injectronics”). Injectronics provides
contract engineering and manufacturing services to consumable
diagnostics and medical device customers. Terms of the transaction were
not disclosed.
Through this acquisition, Phillips-Medisize will add two manufacturing
locations in the Northeastern United States, a global center of
biopharmaceutical and medical device innovation. The current management
team will join Phillips-Medisize and continue to oversee Injectronics’
Clinton, MA and Westborough, MA locations, which will continue to serve
existing customers.
“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,” said Matt Jennings, Chairman, CEO and President of
Phillips-Medisize Corporation. “This transaction is consistent with our
strategic focus to further broaden our reach into the Northeastern U.S.,
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. I am excited about working with the talented
people of Injectronics and I look forward to establishing our design and
development capabilities in the Greater Boston area.”
Paul Nazzaro, Injectronics President & CEO noted, “I could not think
of a better partner than Phillips-Medisize for the people and customers
of Injectronics. This transaction creates new opportunities for growth
and provides our loyal customer base access to Phillips-Medisize’s
global network of design, development and production capabilities and
functions across all platforms.”