Gerresheimer has agreed to acquire Swiss medical technology company, Sensile Medical, in a deal valued at around €350m.
As per terms of the deal, Gerresheimer will initially pay €175m to Sensile Medical, which is engaged in the development of advanced technologies for liquid drug delivery devices.
Sensile Medical CEO Derek Brandt said: “This transaction represents a key Milestone in Sensile Medical’s growth strategy. Gerresheimer is an ideal partner for Sensile Medical in so many ways. We look forward to becoming part of Gerresheimer’s success in the future.”
The acquired business will enable Gerresheimer to provide drug delivery platforms with digital and electronic capabilities for pharmaceutical and biopharmaceutical customers.
Sensile Medical will help pharma producers in an earlier phase of drug and therapy development, which is contrast to the contractual manufacturing model in the Gerresheimer’s medical plastic systems unit.
The company has developed SenseCore pump technology, which features only two plastic pumps.
SenseCore technology can be adjusted in regards to the delivery volume, as per the needs of the customer.
With a range spanning from 50μl over 24 hours to 5ml per minute, the technology can be combined with software and electronic solutions for full control over the delivery.
Sensile Medical produces various pump solutions, which will enable small or large volume subcutaneous delivery of pharmaceutical and biotechnological products for self-administration by patients.
Gerresheimer chief financial officer and management board speaker Rainer Beaujean said: “Sensile Medical is already working with customers on highly successful projects dealing with devices for diabetics and patients with heart complaints and therapy areas such as Parkinson’s disease.
“Sensile Medical lays the foundation for a major extension of our business model in innovative application areas.
Gerresheimer, which is a global partner to the pharma and healthcare industries, produces pharmaceutical packaging products.
The company also produces drug delivery systems such as insulin pens, inhalers, pre-fillable syringes, vials, ampoules, bottles and containers for liquid and solid pharmaceuticals with closure and safety systems, as well as cosmetic packaging products.