Thursday, November 10, 2022
Molded Devices, Inc. (MDI), a provider of high-precision, value-added plastic component manufacturing solutions for medical and non-medical applications, today announced the acquisition of two companies from Schauenburg Hose Technology, GlobalMed Inc. (Canada) and Schauenburg‐Truplast (China) (together, “GlobalMed”).
GlobalMed, headquartered in Trenton, Ontario, Canada, is a pure‐play medical tubing and extrusion manufacturer with over 40 years of plastic extrusion expertise. The company currently serves medical device original equipment manufacturers (OEMs) in clinical areas such as anesthesia, respiratory, ventilation, surgical (smoke evacuation) and sleep apnea. GlobalMed has offices and production locations in Trenton Ontario, Canada and Guangzhou, China.
“The combination of GlobalMed with MDI further deepens our capabilities for medical device OEMs in line with our global growth strategy,” said Gregg Tobin, President and CEO, MDI. “Our current expertise in various molding technologies combined with GlobalMed’s extrusion expertise in the design, development, and production of highly engineered extrusions for specialized medical applications and devices will allow us to provide an expanded set of injection molding, extrusion, design, development, and assembly capabilities to our customers around the world.”
“GlobalMed has experienced an attractive growth trajectory over the past 20 years, becoming a globally recognized player in the medical OEM sector. I’m most grateful to the entire team for all their commitment and achievements during this time,” said Marc Georg Schauenburg, CEO of Schauenburg Technology SE, parent company of Schauenburg Hose Technology Group.
“With MDI, we’ve found a partner whom we believe is well-equipped to capture GlobalMed’s significant growth potential and provide additional professional opportunities to our team,” added Richard Meyer, co‐CEO of Schauenburg Hose Technology Group.
MDI’s core manufacturing capabilities include injection molding, tube extrusion, blow molding, dip molding, and dip coating. The company also provides a range of value-added services including clean room assembly for advanced medical device production, product design and development, and engineering and tooling support – offering a full-suite of solutions to its customer base.
“We are pleased to support MDI’s increased capabilities and robust customer relationships in the fast-growing healthcare market with the addition of GlobalMed,” said John Pless, Co-Managing Partner at TruArc Partners, majority owner of Molded Devices.
The current management team of GlobalMed in Canada and China will join MDI’s leadership team.
Houlihan Lokey, Westend Corporate Finance, PwC, Fasken and JunHe advised Schauenburg and GlobalMed. Davis Polk acted as legal counsel and SVB Securities as financial advisor to MDI and TruArc Partners.