Tech and engineering holding company Accuron Technologies said today it acquired a majority stake in Malaysia-based medical device manufacturer Aurum Healthcare, touting it as the 6th medtech related investment made by the company in the last 2 and a half years.
Aurum will be positioned under Accuron’s Advanced Material Technologies biz, a Sinagapore-based contract manufacturer with a focus on medtech, Accuron said.
“Accuron Medtech welcomes Aurum Healthcare into our family of medtech businesses, which include Advanced Materials Technologies, Dornier MedTech and Veredus Laboratories. Our operating businesses provide therapeutic, diagnostic and medical device solutions to customers internationally through our direct presence in the U.S., Europe, China, Japan and Singapore. By adding a commercial and manufacturing presence in Malaysia through Aurum, we believe this deal will be beneficial for our group operating companies. Accuron Medtech companies can leverage upon each other’s capabilities, networks and expertise in order to maximize their market and technology reach,” Accuron Medtech CEO Abel Ang said in a press release.
The acquisition will increase AMT’s manufacturing footprint by 20,000 square feet through a facility that provides sterilization services for devices and instruments and clean room manufacturing and assembly, the company said.
“This acquisition of Aurum into the Accuron Medtech group of companies will help AMT transform into an integrated, end-to-end medical device outsourcing specialist. We plan to scale up and diversify in the fast growing medtech outsourcing sector in Asia. The combination of Aurum’s capabilities with AMT’s extensive experience transforms us into one of a few contract manufacturers globally that is able to offer a comprehensive, fully-integrated suite of medical device outsourcing services. This means that we are able to handle increasingly sophisticated product designs as well as a wider scope of manufacturing and assembly projects in a cost-efficient and shorter timeframe,” Advanced Materials Technologies CEO Albert Ngoh said in prepared remarks.
The addition will allow AMT to expand its OEM services to include manufacturing of plastic medical consumables, such as those used in heart bypass, catheterization or angiography procedures.
