Tricol International Group has completed the acquisition of wound care company HemCon Medical Technologies.
HemCon develops and markets wound care technologies for hemostasis, wound closure and antibacterial efficacy.
Under the deal, Tricol Biomedical acquired the entire HemCon medical device business, including its brand name and hemostatic antibacterial wound care product line.
HemCon, which will now operate as Tricol Biomedical, designed wound care products for medical professionals in hospital, dental and clinical settings.
Its products can also be used by military and civilian first responders to control bleeding.
Michael Wax will continue to serve as president and CEO for Tricol Biomedical and reports to the board of directors.
HemCon’s Irish and Czech facilities will continue to operate independently as HemCon Medical Technologies Europe, reporting to Wax.
Wax said: "Under Tricol’s guidance, we are looking forward to implementing the strategic direction of the company for continued commercial success and growth within both the U.S. and global market."
Tricol International Group CEO Hongwei Duan said: "With our combined world-class global presence and expertise in chitosan materials, the synergy between the two companies’ business models will allow us more flexibility and faster response time to customer needs and trends in the market."
Image: Tricol International has acquired HemCon Medical Technologies. Photo: courtesy of stockimages / FreeDigitalPhotos.net.