Molex completes acquisition of Phillips-Medisize

LISLE - Molex has completed its acquisition of Phillips-Medisize Corp. a portfolio company of San Francisco-based private equity investment firm Golden Gate Capital.

Financial terms of the transaction were not disclosed.

Hudson, Wisconsin-based Phillips-Medisize is a 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.

"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 will operate as an indirect subsidiary of Molex.

"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," said Matt Jennings, chairman, president and chief executive officer with Phillips-Medisize.