Molex to Acquire Phillips-Medisize
Phillips-Medisize Corporation, Hudson, WI/USA, a global leader in outsource design, development and manufacturing services for the medical industry has entered into a binding agreement to be acquired by Molex LLC, Lisle, IL/USA, a global manufacturer of complete interconnect solutions. Phillips-Medisize is a portfolio company of San Francisco-based Golden Gate Capital, a private equity investment firm with approximately USD15 billion of capital under management.
Molex designs and manufactures electronic, electrical and fiber optic systems and solutions. As one of the world’s largest interconnect companies, Molex employs over 40,000 people in more than 40 countries. Phillips-Medisize has annual sales exceeding USD 700 million with 80% of the total revenue coming from drug delivery, medical device and diagnostic products, such as: disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single-use surgical devices and consumable diagnostic components. The company employs over 4300 people in 17 production locations throughout the United States, Europe, Mexico and China.
“Molex’s global scale in electronics, coupled with Phillips-Medisize’s strength in designing and manufacturing innovative products for medical device customers, will help us become a global leader in connected health solutions,” said Matt Jennings, chairman, president and CEO, Phillips-Medisize Corporation. Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to close in the fall.
Phillips-Medisize Corp. Design Development Center
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