Molex to pick up drug and device packager Phillips-Medisize

Molex will acquire drug and device packaging company Phillips-Medisize in a deal that is expected to close this fall. Financial terms were not disclosed.

Hudson, WI-based Phillips-Medisize caters to the diagnostics and medical device, primary pharmaceutical and drug delivery sectors. It manufactures components for devices such as insulin pens and pumps, glucose meters and surgical tools for laparoscopic and endoscopic procedures, as well as pharmaceutical packaging.

A portfolio company of Golden State Capital, Phillips-Medisize has about 4,300 employees in 17 locations in North America, Europe and China. Of its $700 million in annual sales, 80% comes from drug delivery, medical device and diagnostic products. Meanwhile, Molex bills itself as a global manufacturer of “complete interconnect solutions.” Its products include lighting products, packaging and fiber optic systems.


Join the world's top medtech executives virtually for the leading event in medtech — The Virtual MedTech Conference by AdvaMed

Expect the same high-quality education, world-class speakers and valuable business development in a virtual format. Experience more of the conference with on demand content and partnering, as well as livestreamed sessions.

“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,” said Phillips-Medisize CEO Matt Jennings in the statement.

Before being acquired itself, Phillips-Medisize made some deals of its own. In 2016 alone, it acquired Injectronics, which offers contract engineering and manufacturing services to diagnostics and medical device companies, as well as healthcare company Medicom.

- here's the statement

Related Article:
Phillips-Medisize buys Denmark’s Medicom Innovation, expanding European presence

Suggested Articles

The company describes the continuous glucose monitor as the world’s smallest and thinnest diabetes sensor, with a disc about the size of two pennies.

AI-based drug molecule designer XtalPi has secured a mammoth funding round totaling $318.8 million, from global banking and tech investors.

LabCorp has licensed a blood test from Genfit designed to identify patients with risky cases of the liver disease NASH.