UFP Technologies buys Contech Medical
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Providence, R.I.-based Contech is a manufacturer of class III medical device packaging primarily for catheters and guidewires.
Medical device maker UFP Technologies Inc. is acquiring Contech Medical Inc., a manufacturer of class III medical device packaging primarily for catheters and guidewires, for an undisclosed amount.
Founded in 1987 and headquartered in Providence, R.I., Contech has annual sales of approximately US$18 million. Contech also has manufacturing in Costa Rica.
“We are very pleased to add a new and differentiated medical technology to our growing portfolio,” UFP chairman, CEO, and president R. Jeffrey Bailly said in an Oct. 14 news release. “Contech is an excellent strategic and cultural fit that will continue to make us more valuable to our growing medical customer base. Today, around 70 per cent of Contech’s customers are our customers too. Because we provide complementary – not competing – products and services, we will be able to address customer needs in a more comprehensive way.”
Headquartered in Newburyport, Mass., UFP makes medical devices, sub-assemblies, components and packaging, using laminating, molding, radio frequency welding, and fabricating techniques. It said it also makes products for the aerospace, defense, automotive, consumer, electronics, and industrial markets.