PCI becomes a part of Medbio and creates a combined medical device manufacturing company, capable of supporting the rapid growth of its customers
Michigan-based premier contract manufacturer Medbio has acquired New York-based Polymer Conversions (PCI), for an undisclosed amount.
Under the terms of the transaction, PCI would become a part of Medbio, creating a combined medical device manufacturing company, with potential to support the rapid growth of its customers.
Also, the acquisition is expected to offer considerable operational and commercial synergies for Medbio.
Medbio CEO Chris Williams stated: “I’m looking forward to partnering with the PCI team to expand Medbio’s manufacturing capabilities, while reaching new customers and end markets.”
PCI acquisition to expand geographic presence of Medbio
Medbio is a portfolio company of Graham Partners, a private investment firm focused on industrial technology and manufacturing companies.
Founded in 2004, the company is engaged in providing clean room injection molding, injection mold tooling, assembly, packaging, project management, and design services for the medical and biotechnology industries.
Founded in 1979, PCI is also a precision medical injection molding contract manufacturing company, offering validated medical injection molding, engineering, tooling, clean room and value-added services for medical device, life science, pharmaceutical, biomedical, veterinary and dental industries.
The company stated: “PCI is highly complementary to the existing Medbio platform, expanding the company’s geographic presence, while creating cross-selling opportunities across an attractive base of blue-chip medical device customers.”
In February last year, Medbio acquired AIM Plastics, a founder-owned medical device component manufacturer.
At the time of the acquisition, AIM was offering full-service injection molding and in-house tooling capabilities to high-growth therapeutic areas within the healthcare sector.
Headquartered outside of Detroit, the company was specialised in the rapid turnaround of prototype-to-production molds and complex injection molding that requires niche medical expertise.