Molded Devices Inc., a plastic component manufacturer for medical and non-medical applications backed by TruArc Partners, has acquired GlobalMed Inc. and Schauenburg-Truplast (together, GlobalMed) from Schauenburg Hose Technology.
GlobalMed is a Canadian-based medical tubing and extrusion manufacturer with over 40 years of plastic extrusion experience. The company serves medical device original equipment manufacturers (OEMs) in clinical areas such as anesthesia, respiratory, ventilation, surgical and sleep apnea. The current management team of GlobalMed in Canada and China will join MDI’s leadership team.
“The combination of GlobalMed with MDI further deepens our capabilities for medical device OEMs in line with our global growth strategy,” says Gregg Tobin, president and CEO of MDI. “Our current expertise in various molding technologies combined with GlobalMed’s extrusion expertise in the design, development, and production of highly engineered extrusions for specialized medical applications and devices will allow us to provide an expanded set of injection molding, extrusion, design, development, and assembly capabilities to our customers around the world.”
Houlihan Lokey, Westend Corporate Finance, PwC, Fasken and JunHe advised Schauenburg and GlobalMed. Davis Polk acted as legal counsel and SVB Securities as financial advisor to MDI and TruArc Partners.