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AMETEK entered into a definitive agreement to acquire Paragon Medical, provider of highly engineered medical components and instruments, from affiliates of American Securities in an all-cash transaction valued at approximately $1.9 billion.
Paragon Medical has annual sales of approximately $500 million and is headquartered in Pierceton, Indiana. The company serves a wide range of specialty applications including orthopedics, minimally invasive surgery, robotic surgery and drug delivery. Paragon’s product portfolio includes single-use and consumable surgical instruments and implantable components sold to a diverse customer base of leading medical device manufacturers.
Within 2023, Paragon Medical further expanded its capabilities and reach through acquisitions of Industrial Anodizing, a specialist in the titanium type II and type III anodizing process, and Whimet, a metal finishing and fabrication provider. Its new additive manufacturing facility, announced in 2021, was opened in June of this year, as well.
“We are excited for the opportunity to acquire such an outstanding business,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “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.”
Source: AMETEK
