Hitachi Metals, Ltd. Has Completed The Acquisition Of Three Entities (HTP-Meds, LLC, Hi-Tech Machine & Fabrication, LLC And HTP-Biomerics Medical, LLC)
Manchester, New Hampshire, USA, February 11, 2016
HTP-Meds is a leading supplier of high-end custom extrusions and braided tubing for the medical device industry with customers in the cardiovascular, structural heart, cardiac rhythm management, electrophysiology, neurovascular, vascular access, and pain management markets. HTP-Meds operations are ISO-13485:2003 compliant. They are certified for full device contract manufacturing of medical assemblies specializing in materials, molding, extrusion, advanced catheters, and assembly of completed devices.
HTMF is a supplier of precision machined components for the HTP-Meds operation and also independently serves the medical device industry and other valuable strategic markets. They are AS9100 compliant.
As part of the transaction, a third business, HTP-Biomerics Medical, LLC (HTP-Bio) was also acquired. HTP-Bio will be merged into HTP-Meds with HTP-Meds as the surviving company. HTP-Bio was formerly a 50/50 joint venture between HTP-Meds and Biomerics, LLC of Salt Lake City, Utah. Travis Sessions, CEO of Biomerics commented on the sale. “The HTP-Biomerics Medical, LLC joint venture has been an excellent business unit for both Biomerics, LLC and HTP-Meds, LLC. Over the years, we have seen tremendous growth and strong partnerships due to the joint venture.”
The acquired companies will be led by CEO Lynne Humenik, and President and COO Raymond Lareau. Ms. Humenik will also continue in her current role as President and CEO of Hitachi Cable America Inc. The business offices and production facilities of the acquired companies will remain in the Ashaway, Rhode Island facility. A second facility, within close proximity, is scheduled to start production soon. Ms. Humenik commented, “Their technologies, their growth within the strategic Hitachi Metals markets and their geographic position in North America will generate substantial opportunities for our company. I see a bright future for HTP-Meds and Hi-Tech Machine & Fabrication inside of the Hitachi Metals family.”
SOURCE: Hitachi Metals America, LLC
Hitachi Cable America Inc.
Sr. VP, Technology & Business Development