TWINSBURG, Ohio—Q Holding Co. has entered into agreement to purchase Degania Silicone Ltd., a manufacturer of medical catheters.
The acquisition would more than double Q Holding's employment, with Degania employing 1,700 globally. Q Holding currently employs about 1,300 throughout its nine facilities—five in the U.S., two in China, one in England and one in Mexico.
Degania operates out of four sites in Israel, France, India and Slovakia, with research and development capabilities in Israel and France, Q said in a news release.
The acquisition will create a leader in precision elastomeric medical device components, Q said.
“We are delighted to have reached this agreement to purchase Degania,” Q Holding CEO Randy Ross said in a statement. “The businesses are highly complementary, and the acquisition represents a critical milestone in diversifying and internationalizing the business. It will significantly enhance the value we can deliver to our global customer base.”
Q said Degania goes to market through three brands. Degania, a premier developer and manufacturer of medical catheters for global medical device OEMs; Arthesys, a cardiovascular and peripheral vascular catheter designer and manufacturer specializing in catheters for stent delivery; and Biometrix, a manufacturer and provider of catheter-related kits for hospitals and health care distributors.
Combined with Degania, Q said it will be able to offer an unprecedented suite of development and manufacturing services, material technologies, analytical tools and industry expertise. The business will offer product lifecycle management with assembly, packaging and 510K management for customers looking to outsource.
“We are proud of the company that our employees and investors have developed and we see joining forces with Q Holding as the natural next step for Degania to build upon this growth,” Degania CEO Rami Zajicek said in a statement. “The alignment of Degania, Q Holding and Qure Medical will benefit customers by providing a greater global network of development and manufacturing resources.”