Printer Friendly

Surgical Specialties to Acquire German Needle and Suture Manufacturer.

M2 EQUITYBITES-January 27, 2016-Surgical Specialties to Acquire German Needle and Suture Manufacturer

(C)2016 M2 COMMUNICATIONS http://www.m2.com

27 January 2016 - US-based medical device maker Surgical Specialties Corp has acquired all shares of German needle and suture maker FSSB Chirurgische Nadein GMBH and affiliated entities, the companies said.

Terms were not disclosed.

The acquisition will be immediately accretive to both Surgical Specialties' sales and adjusted EBITDA.

FSSB was founded in 1995 by current managing directors Henry Frenzel and Joachim Brohammer and two others.

They provide a range of needles for use in surgery including micro, ophthalmic and standard surgical needles.

FSSB also works with partners to attach the needles to sutures used in ophthalmic, cardiovascular and sternotomy procedures. FSSB has developed highly automated and proprietary manufacturing technology that produces needles.

The acquired company is headquartered in Jestetten, Germany with manufacturing in Jestetten and a larger manufacturing plant in Poessneck, Germany.

Surgical Specialties financed the transaction through a new USD 147m commercial banking facility.

The company has developed and manufactured branded, private label and OEM surgical instruments for over 40 years.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2016 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Jan 27, 2016
Words:193
Previous Article:TSYS to Acquire Merchant Solutions Provider TransFirst in USD 2.35bn Deal.
Next Article:River Valley Bancorp Shareholder Approve USD 83.5m Buyout.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters