The acquisition will allow Phillips-Medisize to improve its drug delivery device development, and will expand the company’s end-to-end injectable and inhalation device innovation service solutions, the company said.
“This transaction is consistent with our strategic focus on serving the rapidly growing diabetes, biologics, specialty pharmaceutical and personalized oncology markets that need these products and reinforces our leading position in drug delivery device solutions. Medicom’s impressive solutions, 25 years of expertise and 100+ state-of-the-art technology accelerators, coupled with Phillips-Medisize’s scale in design to manufacturing of high to low volume production drug delivery devices, will provide customers with end-to-end integrated service solutions, resulting in increased speed to market. We are excited to welcome the talented Medicom team to Phillips-Medisize and look forward to working together to deliver services and solutions that improve patient compliance and outcomes,” Phillips-Medisize CEO Matt Jennings said in prepared remarks.
With the deal, Phillips-Medisize will employ over 500 engineers across the U.S., Netherlands, U.K. and China, the company said. The Medicom business will retain its CEO Morten Nielsen and its current existing management team.
“We are pleased to partner with Phillips-Medisize, a recognized global leader with an impressive track record of delivering a broad and deep set of capabilities to customers. We are confident that customers of both companies will benefit from an enhanced offering of end-to-end integrated service solutions across a global network while continuing to receive the same best-in-class service that they have come to expect. Importantly, our companies are culturally aligned and we share the same deep rooted passion for innovation which improves our customers’ competitiveness,” Medicom CEO Morten Nielsen said in a prepared statement.