 "Phillips-Medisize's medical & clean room moulding facility")
Molex Llc, a global manufacturer of complete interconnect solutions, has acquired the US-based pharmaceutical packaging specialist Phillips-Medisize Corporation, which is a portfolio company of San Francisco-based Golden Gate Capital - a private equity investment firm with approximately $15 billion of capital under management.
Headquartered in Hudson (Wisconsin), Phillips-Medisize specialises in the medical device and diagnostics, drug delivery, and primary pharmaceutical packaging markets. It has a global design network that supports North America, Europe and China and employs more than 4,300 people in 17 production locations throughout the US, Europe, Mexico and China. Phillips-Medisize Corporation will operate as an indirect subsidiary of Molex Llc.
“Phillips-Medisize has a talented, experienced and innovative team that has strong customer relationships because of its outstanding ability to serve the unique needs of the medical solutions market. Combined with Molex’s expertise in electronics and broad global manufacturing presence, we are confident that together we can significantly expand our medical solutions capabilities globally,” said Tim Ruff, senior vice president of business development and corporate strategy, Molex.
Phillips-Medisize has annual sales of over $ 700 million with 80 percent 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.
Matt Jennings, chairman, president and CEO, Phillips-Medisize Corporation, added, “Molex’s global scale in electronics, coupled with Phillips-Medisize’s strength in designing and manufacturing innovative products for medical device customers, will help us become a global leader in connected health solutions.”
