Nordson Corp. recently announced that it has entered into a definitive agreement to acquire Micromedics Inc., a leader in applying and dispensing biomaterials for controlling bleeding, healing wounds and other related medical procedures. The deal is expected to close within approximately 30 days.
“The Micromedics acquisition fits Nordson’s growth strategy of purchasing high-performing market leaders with differentiated technology and a significant recurring revenue stream,” said Michael F. Hilton, president and CEO of Nordson. “Micromedics extends Nordson’s expertise in precision dispensing technology and helps grow our existing position in the rapidly expanding medical device industry. The market for biomaterial applicators, in particular, is expected to continue growing due to an expanding range of applications, the continuing introduction of new types of biomaterials, and more widespread reimbursement for procedures using these products.”
“The functionality, ease of use and recognized performance advantages of Micromedics products provides significant differentiation in the market and drives customer loyalty,” said Curt Miller, president of Micromedics. “Nordson’s global presence, technology leadership and ability to invest should enable Micromedics to build on these strengths, expand its position as a leading provider in the global medical device market, and provide its employees with multiple opportunities for growth.”
The acquired business will be integrated into Nordson’s Advanced Technology Systems segment. Additional Micromedics product lines related to ear, nose, and throat applications and surgical instrument protection are not being acquired by Nordson and will be spun out prior to close as a new company called Summit Medical Inc.
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Nordson Corp. to Acquire Micromedics Inc.
October 12, 2010