fbpx
Published in Manufacturing

PE-backed Medbio acquires New York medical device manufacturer

BY MIBIZ STAFF Wednesday, September 02, 2020 12:47pm

GRAND RAPIDS — Continuing its growth over the past two years, Grand Rapids-based medical and biotechnology manufacturing firm Medbio LLC has acquired a western New York medical device manufacturer.

Medbio today announced the acquisition of Polymer Conversions Inc., which specializes in contract medical device manufacturing involving thermoplastic injection molding. Company officials say Polymer Conversions is “highly complementary” to Medbio’s platform and expands the company’s “geographic presence.” Terms of the deal were undisclosed.

Medbio President and CEO Chris Williams MIBIZ FILE PHOTO

“I’m looking forward to partnering with the PCI team to expand Medbio’s manufacturing capabilities, while reaching new customers and end markets,” Medbio CEO Chris Williams said in a statement.

Medbio — which specializes in injection moldings, assemblies and packaging for the biotech and medical device industries — is a portfolio company of Philadelphia-based private equity firm Graham Partners, which acquired a majority stake in Medbio in 2018, as MiBiz previously reported.

Medbio has seen steady growth over the past two years, including a $3.5 million expansion in Cascade Township in 2018 and the acquisition of a Detroit-area niche injection molder last year.

Williams told MiBiz in 2018: “We are experiencing heavy growth, and I am frankly having a hard time hiring … in the middle of this big growth spurt.”

Read 1869 times
SUBSCRIBE TO MIBIZ TODAY FOR WEST MICHIGAN’S FINEST BUSINESS NEWS REPORTING >