Alleima has agreed to acquire Endosmart, a Germany-based manufacturer of medical instruments, implants and components made from the shape memory alloy nitinol.
The product range includes kidney stone baskets and loops, breast cancer tumour markers and surgical instruments.
The acquisition is a further step towards Alleima strengthening its position in the medical segment.
Endosmart offers products and services to medical device companies, primarily in the fields of urology, oncology, cardiology, and instruments for orthopaedic and vascular applications. The company is reported within Alleima's Kanthal division.
Göran Björkman, president and CEO of Alleima, said: "Our strategy is focused on profitable growth, and we see great potential in the medical industry, which is characterised by high growth and stable earnings. The acquisition of Endosmart expands our capabilities and expands our currently addressable market with new products and materials. We look forward to welcoming Endosmart to Alleima.”
With complementary material technologies and Endosmart's expertise and capabilities in processing nitinol, the acquisition enables forward-looking integration into the value chain of the medical industry. Endosmart's product and service offerings, certifications and existing customer base expand the currently addressable market for Alleima. The combined expertise and presence will drive further product development and geographic expansion through cross-sales between product portfolios and regions, as well as opportunities to share production and application capabilities.
Gary Davies, head of the medical business unit at Kanthal, said: "We have a long-term strategic commitment to grow our medical device business. With the acquisition of Endosmart, we will continue to expand our range of medical wires and components while expanding our research and development capabilities to develop and offer new, unique solutions.”
The impact on Alleima's earnings per share will initially be neutral. The transaction is expected to close by the end of 2022 and is subject to customary approvals.
