The Lubrizol Corporation, a Berkshire Hathaway company, will invest $ 15 million in the lifesciences business to expand its global manufacturing facilities, positioning lifesciences to better serve the growing market for medical device contract manufacturing.
Since 2014, Lubrizol LifeSciences has consolidated its presence in the life sciences market by introducing new products and making strategic acquisitions. This capital investment will expand multiple facilities and increase Lubrizol LifeSciences’ in-house engineering capacity for both silicone and thermoplastic products.
“We have significantly enhanced our capabilities through the combination of strong polymer technology, application know-how and world-class component manufacturing. As healthcare companies look for total solution providers, we continue to invest in the right areas to provide valuable offerings to our customers,” stated Deb Langer, vice president and general manager, Lubrizol LifeSciences.
Vesta Inc, acquired by Lubrizol in August of 2014, is a leading contract manufacturer for the global medical device industry. With the addition of Vesta, Lubrizol LifeSciences now offers disposable and implantable silicone medical components and assemblies across a wide product portfolio, as well as precision thermoplastic extruded tubing. The recent acquisition of Particle Sciences Inc, a leading contract drug development and manufacturing organization, has positioned Lubrizol LifeSciences as one of the most comprehensive drug delivery device solution providers, offering end-to-end solutions in the healthcare market.
Robert Miller, global business director, medical devices, Lubrizol, said, “With a long history of polymer expertise and significant investment, Lubrizol LifeSciences is positioned to offer full-service development for next generation medical and pharmaceutical innovations.”
