Molex, which describes itself as “a global manufacturer of complete interconnect solutions,” will acquire device developer and manufacturer Phillips-Medisize from Golden Gate Capital, the company said. The financial terms of were not disclosed.
Phillips-Medisize was acquired by Golden Gate Capital in 2014 and earlier this year announced that it would acquire Medicom Innovation Partner (formerly Bang & Olufsen Medicom).
Molex, which acquired ProTek Medical in 2015, indicated its interest in entering the OINDP space when it participated in the exhibition at RDD 2016. The company, which is primarily known for electronic, electrical, and fiber optic connectors, was acquired by Koch Industries in 2013.
Phillips-Medisize Chairman, President, and CEO Matt Jennings said, “Molex and Phillips-Medisize share a similar culture and approach to managing the business that creates strong partnerships built on quality and innovation. 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.”
Molex Senior VP of Business Development and Corporate Strategy Tim Ruff commented, “Phillips-Medisize has a talented, experienced and innovative team that has strong customer relationships because of its outstanding ability to serve the unique needs of the medical solutions market. Combined with Molex’s expertise in electronics and broad global manufacturing presence, we are confident that together we can significantly expand our medical solutions capabilities globally.”
Read the Molex press release.
