MedSource expands UTI in contract manufacturing:
This article was originally published in Clinica
Collegeville, Pennsylvania-based UTI is to expand its business in contract manufacturing, engineering and design for the medical device industry with the acquisition of MedSource Technologies, of Minneapolis, Minnesota. The $230m cash acquisition is expected to close this summer. "Through this acquisition, we will be able to offer our customers the widest array of capabilities possible, thereby allowing them to maximise return on their own resources and accelerate their speed to market," said UTI president and CEO Ron Sparks. The companies believe the combined group will be the largest player in the sector.