Cosmed Group has bought an ethylene oxide sterilization operation from iuvo BioScience, ending an 12-year break from the marketplace.
Ethylene oxide (ETO) is a colorless, flammable and explosive gas that is used as a low-temperature sterilant, according to a 2008 Disinfection and Sterilization Guideline article relayed by the CDC. Alkylation contributes to the microbicidal activity of ETO and prevents normal cellular metabolism and replication on medical devices. Heat- and moisture-sensitive medical devices that cannot be sterilized using steam sterilization, are sterilized by ETO.
“The marketplace is hungry for choices in this arena and Cosmed has responded. The [acquisition] launches what will be an expanding portfolio of contract sterilization services inside North America and beyond. The partnership with iuvo provides our customers access to coordinated sterilization and laboratory testing services,” said David Howe, chief operating officer of Cosmed Group (Jamestown, RI).
Financial terms of the transaction were not disclosed.
Iuvo BioScience currently serves the medical device and pharmaceutical industries with technical and regulatory consulting services, contract laboratory serves and contract sterilization. They operate out of Rush, NY and sold their Erie, Pa., location to Cosmed Group.
“The decision to divest our ethylene oxide sterilization operation was made to sharpen our focus on our core strategy as a leading laboratory service provider for the pharmaceutical and medical device industries,” said Ben Burton, president and CEO of iuvo BioScience.
“Since we will continue to provide laboratory services to our sterilization customers, it was important to find the right partner to consummate the deal—a company that possessed strong sterilization expertise and embraced our ‘client-first’ culture. In Cosmed, we found the ideal partner,” Burton said.
Cosmed Group and iuvo BioScience plan to work closely to serve existing clients.
“We are excited about closing this deal with Cosmed and are confident that our clients will see no difference in the service, technical rigor and supply chain assurance they have become accustomed to under iuvo BioScience,” Burton said.
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