Delphi Medical Systems Acquires Peak Industries
biz.yahoo.com
Tuesday December 7, 7:54 am ET
TROY, Mich., Dec. 7 /PRNewswire/ -- Delphi Medical Systems, a subsidiary of Delphi Corp. (NYSE: DPH), acquired Peak Industries, Inc., a Colorado-based contract manufacturer of medical devices, for $44 million. Sales are estimated to reach $72 million for 2004.
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This strategic acquisition provides Delphi Medical Systems access to new customers in its target markets of dialysis, infusion, patient monitoring, and respiratory devices, thus contributing significantly to Delphi's strategy of customer diversification with key new customers.
"Delphi Medical Systems Colorado Operations will further support Delphi's diversification strategy and Medical Systems' goal to become the leading provider of products, technologies, and manufacturing services to the medical device industry," said Christophe Sevrain, managing director, Delphi Medical Systems. "We will continue supplying all current customers, without interruption."
Delphi Medical Systems Colorado Operations is expected to leverage Delphi's industry leading portfolio of intellectual property, purchasing power, global manufacturing footprint, product testing and high reliability to bring a broader array of technologies and services to the medical device industry. The addition of the Colorado Operations should complement Delphi Medical Systems' existing capabilities by enhancing its medical device manufacturing compliance expertise.
The new operations would house key manufacturing, assembly and testing activities and integrate innovative Delphi technologies to provide customized solutions, focusing on complex medical devices, with a very short time-to- market.
The Colorado Operations are expected to support recently won new business with Zoe Medical, a vital signs monitoring devices company, to supply all of Zoe Medical's vital signs monitoring devices and accessories. Also, Delphi Medical Systems recently signed a licensing agreement with SRI International, a non-profit public benefit organization, to develop several new respiratory care technologies. An earlier licensing agreement with Switzerland-based medical device company Debiotech, S.A., granted Delphi Medical Systems rights to manufacture and market an ambulatory intravenous (IV) pump, now called Delphi's IVantage along with its associated disposables and accessories.
"Employees trained and experienced in manufacturing for the medical device industry are among the most valuable assets of the new company," Sevrain said. The Colorado Operations employees have broad expertise manufacturing complex, state-of-the-art commercial and medical devices under the highest quality standards, and compliant with Food and Drug Administration and ISO-13485 standards.
"We look forward to working seamlessly with our now larger medical systems team to continue to supply all of Peak Industry's existing customers while maintaining a focused growth in our targeted market segments," Sevrain said.
About Delphi Medical Systems
Delphi Medical Systems is a world-class provider of technology, products, and product development and manufacturing for Dialysis, Infusion, Respiratory Care, Vital Signs Monitoring and Power Mobility. Its capabilities stem from Delphi's vast technology base, product development expertise and manufacturing excellence.
For more information on Delphi Medical Systems, please visit its website at: delphimedical.com . |
