Graham Partners Molds Premier Medical Device Manufacturer
September 1st, 2020
Graham Partners, a private investment firm targeting technology-driven advanced manufacturing companies, is pleased to announce that its portfolio company, Medbio, LLC (“Medbio”), an outsourced manufacturer specializing in clean room injection molding and assembly for medical, life science, and biotechnology devices, has acquired Polymer Conversions, Inc. (“PCI”). PCI follows the acquisition of AIM Plastics, Inc. (“AIM”), which was completed in February 2019 and also integrated with Medbio. Together these businesses create a premier medical device manufacturing platform of scale, capable of supporting the rapid growth of the company’s customers.
Headquartered in Western New York, PCI is a full-service medical device contract manufacturer that specializes in complex thermoplastic injection molding and value-add assembly. 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. The acquisition of PCI is also expected to present significant operational and commercial synergies. Joe Heinmiller, Managing Principal at Graham Partners, said, “Medbio has performed well during the COVID-19 pandemic and we are excited to complete the strategic addition of PCI to continue to grow the Medbio platform.” Chris Williams, Medbio CEO, stated, “I’m looking forward to partnering with the PCI team to expand Medbio’s manufacturing capabilities, while reaching new customers and end markets.” Steve Graham, CEO of Graham Partners, added, “Completing add-on acquisitions that bring new advanced capabilities to our businesses is an important part of our investment strategy at Graham. With PCI, we further cement Medbio’s positioning as a one-stop-shop for best-in-class outsourced medical device manufacturing.”
Medbio is an outsourced manufacturer specializing in clean room injection molding of plastic components for medical, life science, and biotechnology devices, as well as mold tooling, device assembly, and packaging. Headquartered in Grand Rapids, Michigan, the company manufactures single-use, disposable products for high-growth end markets and is differentiated by its ability to serve as a one-stop-shop for outsourced manufacturing. Medbio’s niche position has resulted in longstanding customer relationships in an industry that is benefiting from multiple conversion tailwinds and attractive macro healthcare trends.
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