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news.Synergetics USA, which provides medical devices for use primarily in ophthalmic surgery and neurosurgery, has purchased Medimold for $80,000 in cash consideration.
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Synergetics plans to incorporate Medimold’s plastic injection molding technology into its operations by moving currently machined parts to the Medimold platform. Annual initial cost savings resulting from the transaction are expected to exceed $100,000 and ultimately exceed $250,000.
The acquisition is also expected to enhance component quality, expand the company’s manufacturing capacity, and provide greater component inventory control.
Kurt Gampp, executive vice president and COO of Synergetics USA, said: “The acquisition of Medimold is in keeping with our ongoing process improvement at all levels of the organization. From a product development and manufacturing perspective, Medimold’s technology is a perfect fit with our manufacturing process.”