Diversified industrial company NN Inc. (Nasdaq: NNBR) announced today that it has completed its acquisition of Bridgemedica — which provides design, development engineering, manufacturing and packaging services to the medical device industry.
Financial terms of the deal were not disclosed.
“The acquisition of Bridgemedica is another key step in the growth of our life sciences segment through significantly expanding our new product design and development capabilities,” Richard Holder, Johnson City, Tenn.–based NN‘s president and CEO, said in a news release.
“This acquisition aligns perfectly with our strategic plan and long-term objective to further diversify our portfolio and expand into markets that we believe have strong growth potential,” Holder said. “Bridgemedica significantly expands our new product design engineering and development capabilities through its expertise in rapidly moving from the concept design stage through development and full-scale product manufacturing as we continue to focus on providing more value-add and innovative solutions for our customers.”
NN has 36 facilities in North America, Europe, South America and China.