June 13, 2007 -- Swedish engineering company Sandvik, whose UK base is in Halesowen, has snapped up Midlands firm Doncasters Medical Technologies from the Doncasters Group for an undisclosed sum. The acquisition is expected to be completed in the second quarter.
Derby-based Doncasters Medical Technologies is a leading contract manufacturer of orthopaedic implants and instruments to the medical industry. The products are made of high-alloy stainless materials, titanium and cobalt-based alloys, and customers are medical technology companies which sell directly to hospitals and physician clinics. The acquired business employs 430 people and had sales of £34 million in 2006. Its operations are based in the UK, US and Mexico.
Sandvik already manufactures medical equipment out of high-alloy materials, titanium and cobalt chrome, and said the acquisition would enhance its competitive edge in the market. "Through the acquisition Sandvik strengthens its position in the strategically important and rapidly growing medical segment," the company said in a statement. "The acquisition provides us with the expertise needed to secure a unique position within manufacturing and development of orthopaedic implants and instruments," it added.
Doncasters' chief executive Eric Lewis said he believe the combination with Sandvik's medical materials activities will enable the full potential of the business to be achieved for the benefit of all stakeholders. Proceeds would be used to grow other sectors.
Source: Birmingham Post
Source: Factiva
