Ad
Ad
Ad
Ad
Ad
Ad
Ad
© mikael damkier dreamstime.com Electronics Production | February 21, 2017

Nordson to acquire business unit of Vention Medical

Nordson Corporation has entered into a definitive agreement to acquire Vention Medical’s Advanced Technologies (Vention AT) business.
Nordson will acquire the company – which designs, develops and manufactures minimally invasive interventional delivery devices, catheters and advanced components for the global medical technology market – for USD 705 million in an all cash transaction.

Headquartered in Salem, New Hampshire, Vention AT reported sales of USD 150 million and EBITDA of USD 48 million for the trailing twelve months ended January 31, 2017.

“This acquisition aligns with the medical growth strategy we have consistently articulated, brings significant scale to what is already one of Nordson’s fastest growing businesses, and enhances strategically important capabilities including design and development, extrusion, complex medical tubing and balloon manufacturing, nitinol forming and other specialty material expertise,” said Michael F. Hilton, Nordson President and Chief Executive Officer.

“We see Vention AT as an ideal complement to our current offering of single-use fluid management components, biomaterial delivery devices, and high end cannula and tubing, and we are excited to bring our combined capabilities to the many leading medical OEM customers we share,” Hilton continued.

Vention AT employs approximately 775 people and will operate as part of Nordson’s Advanced Technology Systems segment.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Ad
Ad
Load more news
April 27 2017 1:33 PM V8.1.3-1