For Muroski, the transition means the continued integration of the Australian-Chinese Baron Group, a $300 million acquisition that Trelleborg is expected to close on later this year; and a $21 million, 107,000-sq.-ft. health care and medical facility in Grecia, Costa Rica, a country that has become a hotbed of medical part production.
"The (medical device) industry itself is expected to have a CAGR of greater than 5 percent," Muroski told Rubber News earlier this year. "We will work with our customers to bring this life-changing technology to patients, delivering full medical devices.
"We see this industry as having steady growth. The industry is innovating and providing products for a better patient outcome. And these things really do make the market attractive to us."
Nilsson noted that Muroski was instrumental in forming the aforementioned global healthcare and medical unit (prior to splitting from TSS as Trelleborg Medical Solutions), gathering an "astute leadership team and quickly integrating four acquired businesses."
"The health care and medical market segment within the group has grown successfully for several years," Nilsson said. "We are now establishing a platform from which we intend to grow further. With the recently signed acquisition of Baron Group and the upcoming new facility in Costa Rica, the market segment will represent a larger share of the group's sales."
With its headquarters in Minneapolis, TMS will focus on a broad portfolio of polymer-based solutions.
The new business unit is further subdivided into Medical Device Solutions and BioPharma Solutions.
While med-tech is expected to grow at 5 percent CAGR, this sub-unit will comprise about 90 percent of TMS business, Muroski said.
Conversely, the biopharma market is expected to grow at 10 percent CAGR, but it will comprise only about 10 percent of TMS sales.
TMS initially is expected to generate sales of about $350 million annually.
Muroski joined Trelleborg in 2016 and most recently served dual roles as Trelleborg president, marketing Americas; and president, global healthcare and medical. She has worked for Johnson Controls, Engelhard and BASF.
TMS now comprises 14 production facilities that serve customers' needs across every phase of the medical device development cycle, from concept to full production.
"The formation of Trelleborg Medical Solutions gives us increased strategic direction to support our customers," Muroski said. "It signifies our commitment to the health care and medical industry, and I'm honored to help foster that direction and commitment in this new role."
Trelleborg first announced the personnel changes, along with several business unit restructuring measures, in February.
Industrial Americas, which had been under Muroski's purview during the transition period; and Industrial Europe, which had been under Hahn's leadership with TSS, now are under the Jean-Paul Mindermann-led Trelleborg Industrial Solutions.
Those changes also took effect April 1.
In 2023, the Trelleborg Group saw annual sales of approximately $3.3 billion.