MedPlast announced that it has acquired Coastal Life Technologies, its second acquisition in a three-month span. The financial details of the deal were not disclosed.
MedPlast is working to expand its services and network of global manufacturing facilities to the world’s largest OEM. The acquisition of Coastal Life extends MedPlasts medical device assembly sites to 23 facilities, including Coastal Life’s new 135,000 sq ft. facility in San Antonio, Texas.
“Coastal Life adds another valuable capability to our suite of services that will benefit our customers. It has strong operational device assembly competencies that will enrich our overall quality and productivity, and bring us another step closer to becoming the first end-to-end contract manufacturing services provider in the medical device industry,” said Bill Flaherty, president of medical device solutions at MedPlast.
“This is a great opportunity to bring together two highly complementary businesses. Both of our companies have high-quality standards and practices that, when combined, will make us a stronger organization,” said president of Coastal Life David Huff. “I am excited about the greater impact we can make by becoming part of MedPlast.”
MedPlast recently acquired Vention Medical’s device manufacturing services business as well. Prior to that, it partnered with two investment firms, Water Street Healthcare Partners and JLL Partners, to expand its offerings. The two companies invested in MedPlast in December 2016.
Huff is expected to stay as the leader on Coastal Life’s operations and will report to Flaherty.
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