US-based Owens & Minor has signed an agreement to acquire Ireland-based surgical kitting company ArcRoyal, for an undisclosed sum.
Established in 1992, ArcRoyal produces custom procedure trays and a wide range of essential surgical products that are supplied to hospitals across Europe through corporate partners, distributors and other agents.
Located 30 miles from Dublin, the company supplies products to healthcare companies in around 30 countries, noted Owens & Minor.
Owens & Minor president and CEO James Bierman said the acquisition of ArcRoyal will expand firm’s ability to produce kits, packs and trays for the healthcare market, and will provide with immediate reach into European markets.
"ArcRoyal is well-known in Europe and has an established manufacturer customer base. We believe this acquisition gives us new opportunities for growth in the second largest global healthcare market," added Bierman.
Earlier, Owens & Minor also signed a deal to acquire US-based kitting company Medical Action Industries.
The acquisition of both companies is expected to increase Owens & Minor’s business opportunities across the globe.
Subject to certain customary regulatory approvals, the transaction is expected to be completed in the fourth quarter of this year.