Unprecedented combination enhances technology and service capabilities for complex medical devices
SOUTH PLAINFIELD, NJ (July 14, 2010) -- The MedTech Group, a leading medical device contract manufacturer, announced the closing of its merger with Advanced Polymers, one of the industry’s most respected companies. Advanced Polymers is known for producing the industry’s thinnest, strongest and smallest heat shrink tubing, superior balloon-making capabilities and specialized catheter design capabilities. New Hampshire based Advanced Polymers joins the design specialists at TDC Medical in The MedTech Group’s integrated family of companies. Their combined capabilities create a dynamic, comprehensive offering that includes full scale design and development and global contract manufacturing for complex components and devices.
This business combination furthers MedTech’s strategic initiatives in catheter based devices. Advanced Polymer’s extensive patent portfolio and proprietary processes creates an unparalleled resource to address customers’ design, development and manufacturing needs.
Additionally, Advanced Polymers proprietary polymer processing and expertise in heat shrink tubing, custom extruded medical tubing and balloons provide a strong complement to MedTech’s expertise in complex injection molding and device design and assembly. The combined company will be an industry leader in plastics based solutions and technology.
The merger provides Advanced Polymers with access to MedTech’s global manufacturing footprint, including its industry leading assembly operation in Costa Rica, and bolsters the engineering talents of both companies, now with over 100 engineers devoted to design, quality and manufacturing. The combined company is committed to exclusively serving the healthcare industry, and to carrying forward an outstanding reputation for quality and leading edge technology and capabilities.
George Blank, The MedTech Group’s President and CEO, stated, “I am very pleased that Mark Saab will continue to serve as President of Advanced Polymers and is joining The MedTech Group Board of Directors. He and Elisia Saab, co-founders, built a market leading company and will remain significant shareholders in our combined company. Having their continued expertise and leadership will be a key factor in our future success as a combined company.”
“This is a unique strategic combination of capabilities and expertise that will provide substantial growth opportunities for the combined company. As MedTech has continued to expand its presence in the interventional markets, many devices built at MedTech have mission critical components made by Advanced Polymers. The combination also allows Advanced Polymers to leverage MedTech’s full contract manufacturing, supply chain management and TDC Medical’s design capabilities as we continue to grow our catheter development and manufacturing business and also look to expand our custom extrusion and component business,” said Advanced Polymers’ President, Mark Saab.
“This merger is another example of our strategic commitment to investing in proprietary technology and processes. Our company now has a complete capability to assist our customers in delivering integrated solutions for the most demanding new interventional and minimally invasive devices,” said George Blank. “To reflect this enhanced direction, we will be rebranding the company to more accurately communicate the company’s position in the marketplace. A new name will be rolled out in the coming months.”
About The MedTech Group
The MedTech Group creates compelling value for medical device companies by delivering contract design, engineering, specialty processes and manufacturing for complex components and single use devices. The company has manufacturing facilities in South Plainfield, NJ; West Haven, CT; Vega Baja, Puerto Rico and Heredia, Costa Rica; design and development facilities in Marlborough, MA; Sunnyvale, CA and Boulder, CO; and a supply chain office in Singapore.
About Advanced Polymers
Advanced Polymers designs and produces innovative, highly differentiated products and components utilized in the manufacture of leading edge, interventional and minimally invasive medical devices. Advanced Polymers is known for its novel balloon design and manufacturing capability. It is also the exclusive producer of revolutionary thin walled, ultra high strength heat shrink tubing, made possible by the company’s unique and proprietary processes. Advanced Polymers is located in Salem, New Hampshire.