Sam Brusco, Associate Editor10.31.23
AMETEK entered a definitive agreement to acquire Paragon Medical in an all-cash transaction that's valued at approximately $1.9 billion.
Paragon has a portfolio of single-use and consumable instruments, as well as implantable components for a wide variety of medical device makers. The company posted annual sales of around $500 million and is headquartered in Pierceton, Ind.
AMETEK, a provider of industrial tech solutions, posted yearly sales of over $6 billion.
"We are excited for the opportunity to acquire such an outstanding business," AMETEK chairman and CEO David A. Zapico told the press. "Paragon meaningfully expands our presence in the MedTech space and provides us access to attractive new market segments with strong growth rates. Its products and capabilities nicely complement AMETEK's existing medical businesses enabling geographic and customer expansion opportunities."
In September, Paragon acquired Whimet Inc., a metal finishing and fabrication provider which offers a comprehensive suite of services including anodizing, passivation, blasting, electropolishing, laser etch, and polishing.
Paragon has a portfolio of single-use and consumable instruments, as well as implantable components for a wide variety of medical device makers. The company posted annual sales of around $500 million and is headquartered in Pierceton, Ind.
AMETEK, a provider of industrial tech solutions, posted yearly sales of over $6 billion.
"We are excited for the opportunity to acquire such an outstanding business," AMETEK chairman and CEO David A. Zapico told the press. "Paragon meaningfully expands our presence in the MedTech space and provides us access to attractive new market segments with strong growth rates. Its products and capabilities nicely complement AMETEK's existing medical businesses enabling geographic and customer expansion opportunities."
In September, Paragon acquired Whimet Inc., a metal finishing and fabrication provider which offers a comprehensive suite of services including anodizing, passivation, blasting, electropolishing, laser etch, and polishing.