Molex, a leading manufacturer of interconnect solutions, has completed its previously-announced acquisition of Phillips-Medisize, a portfolio company of the San Francisco, CA -based private equity investment firm, Golden Gate Capital. Phillips-Medisize will operate as an indirect subsidiary of Molex. Financial terms of the transaction were not disclosed.
“Phillips-Medisize brings strong capabilities to Molex in the medical solutions market globally,” said Martin Slark, chief executive officer of Molex, LLC. “Combining Molex’s expertise in electronics and our broad manufacturing presence with Phillips-Medisize’s talented and experienced team will help us better serve the growing needs of the global market for innovative connected health solutions.”
"Phillips-Medisize is excited to be joining the Molex team and looks forward to the opportunities ahead,” said Matt Jennings, chairman, president and chief executive officer, Phillips-Medisize Corporation. “Phillips-Medisize and Molex together create a strong alignment for continued growth in the connected health solutions market, while maintaining focus on quality, service and innovation.”
Hudson, Wisconsin-based Phillips-Medisize is a leading global outsource provider with a focus on medical solutions that include drug delivery, mobile and portable medical devices, and primary pharmaceutical packaging and diagnostic products, including disposable insulin pens, glucose meters, inhalation drug delivery devices, single use surgical devices and consumable diagnostic components.