Molex subsidiary acquires Wisconsin-based medical industry firm

Business Wire

LISLE - Molex announced one of its subsidiaries will acquire Phillips-Medisize Corp. for an undisclosed amount.

Phillips-Medisize, headquartered in Hudson, Wis., specializes in the medical device and diagnostics, drug delivery, and primary pharmaceutical packaging markets. It has a global design network that supports North America, Europe and China and employs more than 4,300 people in 17 production locations throughout the United States, Europe, Mexico and China. It is a portfolio company of San Francisco-based Golden Gate Capital, a private equity investment firm with approximately $15 billion of capital under management.

Phillips-Medisize Corporation will operate as an indirect subsidiary of Molex.

"Phillips-Medisize has a talented, experienced and innovative team that has strong customer relationships because of its outstanding ability to serve the unique needs of the medical solutions market," said Tim Ruff, senior vice president of business development and corporate strategy at Molex. "Combined with Molex's expertise in electronics and broad global manufacturing presence, we are confident that together we can significantly expand our medical solutions capabilities globally."

Phillips-Medisize Chairman, President and CEO Matt Jennings said the two companies share a similar culture and approach to managing the business.

"Molex's global scale in electronics, coupled with Phillips-Medisize's strength in designing and manufacturing innovative products for medical device customers, will help us become a global leader in connected health solutions," Jennings said.