PLYMOUTH, Mich. (Oct. 20) — Freudenberg-NOK G.P. has acquired the assets of Helix Medical Inc. to expand its elastomeric seals and custom molded products business within the health care and medical markets.
Terms of the agreement, announced Oct. 19, were not disclosed.
Helix Medical will continue to develop and manufacture custom molded products, extruded silicone and voice restoration devices at its Carpinteria, Calif., facility, and will continue to serve the biomedical and pharmaceutical industries through its sales and marketing departments.
Freudenberg-NOK, which serves a variety of markets but does the bulk of its business within the automotive sector, wants to grow in the medical component and device markets, and the Helix acquisition reflects the commitment to that plan, said Jorg Schneewind, general manager of Freudenberg-NOK´s Special Sealing Products division.
The company acquired silicone molder Jenline Industries Ltd. in 2004 as the "nucleus" of its expansion into the health care and medical markets, and it "outgrew our expectations," Schneewind said. Freudenberg-NOK is currently doubling the space at the Jenline facility in Gloucester, Mass., to accommodate new business.