MedPlast, Inc., a global services provider to the medical device industry, announced today that it has completed its acquisition of Vention Medical's Device Manufacturing Services business. The acquisition broadens MedPlast's manufacturing capabilities and bolsters its position as a leading services provider to the world's largest original equipment manufacturers.
"This acquisition is a first and important step in our strategic plan to expand our offering to customers," said Harold Faig, chief executive officer, MedPlast. "Our goal is to build on our core manufacturing and engineering capabilities to provide our customers with a comprehensive portfolio of end-to-end product solutions."
MedPlast's acquisition of Vention Medical's business comes three months after the company partnered with two investment firms to expand its suite of services. Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, and JLL Partners, a middle-market private equity firm, invested in MedPlast in December 2016.