Cadence makes strategic acquisition.
Cadence Inc., a contract manufacturer and maker of complex components and subassemblies for medical device and life-sciences companies, acquired three operating business units of Plainfield Precision Holdings--Plainfield Precision in Sturgeon Bay, Wis.; Plymouth, Mass.; and Santo Domingo, in the Dominican Republic.
Terms of the deal were not disclosed.
Plainfield Precision Holdings is a specialized solutions provider of assembled products that integrate stamped metal and molded plastic components. According to Cadence leadership, the acquisition positions their company among the top global providers of technologies and services used in advanced surgical products.
"Plainfield Precision Holding's portfolio of precision plastic injection molding and metal stamping capabilities provides key building blocks for our supply chain integration strategy," said Alan Connor, CEO of Cadence. "Our customers are increasingly looking to more strategic partners to fulfill their supply chain requirements. With our base of capabilities, including plastics and metals, Cadence is well positioned to meet these evolving contract manufacturing needs. We focus on minimally invasive surgical tools and this drives continued expansion of the capabilities of our trusted platform. Having near-shore operations located strategically in the Dominican Republic provides additional flexibility for our customers."
Staunton, Va.-based Cadence employs more than 400 people worldwide. In addition to its newly acquired sites, the company also has facilities in Cranston, R.I., and Pittsburgh, Pa.
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||Industry News|
|Publication:||Orthopedic Design & Technology|
|Date:||Sep 1, 2014|
|Previous Article:||MEDEC approves guidances on ethical relationships with third-party distributors.|
|Next Article:||Amedica names new board chairman.|