Phillips-Medisize acquires Medicom Innovation Partner

Medicom Innovation Partner and Phillips-Medisize Corporation have announced that Phillips-Medisize has acquired Medicom. Through this acquisition, the combination of Phillips-Medisize and Medicom will bolster its leading position in drug delivery device and connected health solutions.

 
  • Two strong forces creating a world leader within the Drug Delivery Device and Connected Health market
  • The joint company will offer innovative and integrated solutions supported by an end-to-end service offering from Strategy to Launch

Terms of the transaction were not disclosed.

Together, the combined company will have over 500 engineers across design centers in Hudson, WI; Mountain View, CA; Hillegom, Netherlands; Struer, Denmark; Cambridge, United Kingdom; and Suzhou, China.

Phillips-Medisize and Medicom will now together be able to support its customers with a global end-to-end service solution, including early device strategy, feasibility and market research, device development and industrialization, clinical and pilot production and adaptable commercial production including supply chain management services. The combined offering will be unique in the contract development and contract manufacturing market.

Matt Jennings, Chairman, CEO and President of Phillips-Medisize, 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.”

“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 an end-to-end integrated service solution across a global network while continuing to receive the same best-in-class service that they have come to expect,” said Morten Nielsen, CEO of Medicom.

“Importantly, our companies are culturally aligned and we share the same deep-rooted passion for innovation which improves our customers’ competitiveness.”

Medicom will continue to be led by Morten Nielsen and Medicom’s existing management team. Morten Nielsen will report to Bill Welch, Phillips-Medisize’s Chief Technology Officer and global leader of preproduction services.

Maj Invest Equity, a leading private equity investor in Denmark, has been majority owner of Medicom since 2007. Maj invest Equity has been an active partner, in the successful journey towards the global leadership within Drug Delivery Devices.

“We have been very impressed by the Medicom journey and the commercial focus of the strong management team. We are pleased with the outcome of our investment in Medicom. Philips- Medisize is an ideal future owner, further leveraging the strong business momentum and providing a good home for the employees and customers of Medicom” says Mads Andersen, Partner at Maj Invest Equity.

www.medicomip.com



About Phillips-Medisize Corporation
Phillips-Medisize is a leading global outsource provider of design and manufacturing services to the drug delivery and combination products, consumable diagnostics and medical device, and specialty commercial markets. The company has annual sales of over $650 million with 80% of the total revenue coming from drug delivery, medical device, primary pharmaceutical packaging and diagnostic products such as: disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single use surgical devices and consumable diagnostic components.

Phillips-Medisize Corporation features a list of blue chip medical device, pharmaceutical and specialty commercial customers. The company partners with its customers to provide design and development services which accelerate speed to market of innovative products and then works with its customers to deploy advanced automated assembly and quality control technologies which reduce manufacturing cost while improving quality. The company’s core advantage is the knowledge of its people to integrate design, molding, and automation to drive low cost and high quality manufacturing solutions.

Phillips-Medisize Corporation is headquartered in Hudson, WI, and employs over 3,800 people in 14 production locations throughout the United States, Europe, Mexico and China. The company also has 4 design centers in Hudson, WI; Mountain View, CA; Hillegom, Netherlands; and Suzhou, China.

About Maj Invest Equity A/S
With a total commitment of approx. DKK 8.5 billion, more than 17 portfolio companies and 15 investment employees, Maj Invest Equity is a leading private equity player in Denmark. Maj Invest Equity originates from the Danish pension fund LD which through many years of investing in Danish private equity has created the basis for Maj Invest Equity's strategy, focusing on companies’ development and responsible ownership.

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Media Contacts:

Medicom Innovation Partner:
Morten Nielsen, CEO
Phone: +45 2075 3701, Email: mon@medicomip.com

Phillips-Medisize:
Christina Johnson (US)
Phone: +1 715.748.8928, Email: christina.johnson@phillipsmedisize.com
Paula Kasper (Europe)
Phone: +41 448383933, Email: paula.kasper@phillipsmedisize.com

Maj Invest Equity:
Mads Andersen, Partner
Phone: +45 33 38 73 69, Email: maa@majinvest.com
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