Sandvik acquires medtech company
Sandvik Materials Technology has acquired the medical technology company JKB Medical Technologies in the US.
JKB Medical Technologies is a leading contract manufacturer of spinal implants and medical instruments. Implants represent approximately 80% of sales. The products are manufactured from titanium alloy and high-alloy stainless materials. Its customers comprise globally leading medical technology companies that sell directly to hospitals and medical clinics.
The company has sales of about SEK 90 M (USD 14 M) and the number of employees is 90. Operations are conducted from the main plant in Milford, Connecticut, and the recently established plant in Memphis, Tennessee, both in the US.
The acquisition further strengthens Sandvik's position in the strategically important and rapidly expanding medical segment.
"The acquisition is another important step in our efforts to become a strategic partner and complete supplier to globally leading medical technology companies. JKB Medical Technologies' core expertise and product program represent an excellent complement to Sandvik's existing operation and product offering within the medical area. Through Sandvik's knowledge within the areas of materials technology and machining, it will be possible to further develop JKB Medical Technologies' product program," says Peter Gossas, President of Sandvik Materials Technology.
The acquisition will be consolidated from 14 December 2007.
Sandviken, 14 December, 2007
Sandvik AB; (publ)