Technimark acquires Ci Medical Technologies

Asheboro, North Carolina – Technimark officials announced the company’s acquisition of Ci Medical Technologies, a specialty medical component manufacturer headquartered in Latrobe, Pennsylvania, from Altaris Capital Partners.

Ci Medical specializes in product development, scientific molding, contract manufacturing, assembly, packaging, and logistics with a focus on cost effectiveness and quality. Operations at Ci Medical meet applicable ANSI and ISO standards and FDA regulations for the manufacture of its medical products, including insulin pumps, surgical tools and other specialized devices.

Technimark’s acquisition of Ci Medical will expand the manufacturing capabilities and global footprint for customers of both companies, leveraging Technimark’s culture of product innovation and technical excellence with Ci Medical’s scientific and healthcare manufacturing expertise. Technimark is a Pritzker Group company.

Ci Medical was founded in 1971 as Classic Industries, Inc. As the company grew at its Pennsylvania headquarters, it specialized in injection-molded components for medical, pharmaceutical and healthcare applications worldwide. Today Ci Medical has more than 550 employees at its five facilities in Pennsylvania, Texas, Mexico, Puerto Rico and the U.K. The combined company will have 14 facilities throughout the world including Germany and China.

“The acquisition of CI Medical accelerates Technimark’s growth in the medical injection molding market,” said Brad Wellington, CEO of Technimark. “We look forward to combining CI Medical’s blue chip customer base and manufacturing capabilities with Technimark’s global footprint and financial resources to expand our delivery of innovative, high-quality medical products at low cost for our valued customers.”

Robert Subasic, Jr., CEO of Ci Medical Technologies, added, “Ci Medical has been combining advanced technologies and engineering expertise to deliver cost-effective, quality healthcare products for more than 40 years. This partnership puts us in a great position for long-term growth and will allow the teams to work together to build lasting value.”

Tony Pritzker, Pritzker Group managing partner, added, “Pritzker Group acquired Technimark because of their great team and exceptional focus on customers and innovation. This acquisition of CI Medical represents an important leap forward in the medical products market and will significantly accelerate Technimark’s growth.”

“Ci Medical and Technimark are global innovators in plastics research, development and production, and both companies bring specialized expertise to the healthcare market,” said Michael Nelson, investment partner for manufactured products at the Pritzker Group. “This new partnership is powerful combination with amazing opportunities for continued growth.”

Source: Technimark