Spectrum Plastics Group, a provider of medical components and contract manufacturing services, has announced the acquisition of Earnan Biomedical Ltd of Wexford, Ireland. Earnan Biomedical, led by Colin Sutherland, is a recognized leader in the innovation of medical balloon technologies and solutions. The acquisition represents an additional investment for Spectrum Plastics overseas and in Ireland in particular, contributing to its established manufacturing presence and operation in Tullamore.
Earlier this year, Spectrum Plastics struck a joint-marketing agreement with Earnan and Mr. Sutherland, offering quick-turn, stock balloon solutions “off the shelf” through its Apollo web store. Over the last several months, the alignment the two companies witnessed between their respective technical solutions for customers in the catheter systems market compelled a more formal consummation.
Earnan specializes in the design, development, and manufacture of custom balloon forming technologies. Its suite of capabilities includes textured and non-textured balloons across a wide variety of materials, including nylon, polyurethane, and polyester. Additional developments include multi-layered balloon designs and high-pressure products. Applications range across cardiovascular, gastrointestinal, nutrition, neurovascular, wound care, and orthopedic solutions.
Spectrum Plastics will retain the Earnan name as the brand under which its balloon solutions will be marketed–Earnan balloons by Spectrum Plastics Group. Mr. Sutherland will remain with Spectrum Plastics as Vice President of Balloon Technologies and direct the Wexford, Ireland center of excellence for balloon innovation, which will become part of Spectrum Plastics’ Vascular Technologies division.
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Neil Shillingford, Spectrum Plastics CEO, remarks, “It is my pleasure to welcome Colin and Earnan to the Spectrum Plastics Group. Its balloon technology is without peer and will no doubt advance the solutions we provide to our customers and their next generation catheter delivery systems.”
This transaction is the first acquisition of Spectrum Plastics since it acquired Fermatex Vascular Technologies, better known as Adam Spence, in May of 2018. Both transactions have supported its Vascular Technologies division, a focus for growth and expansion for the company.
Date: June 24, 2019
Source: MPO
