NN, Inc. acquired DRT Medical, supplier of precision manufactured orthopaedic implants and instruments. Financial terms were not disclosed.
DRT serves the world’s largest orthopaedic implant device companies and their associated suppliers from its plants in Ohio and Pennsylvania.
NN, a widely-diversified global industrial company, has grown its life sciences offerings over the years via acquisition. Today, its brands include Boston Endo-Surgical Technologies (BE-ST), Holmed, Precision Engineered Products and Trigon, and its offerings address joint reconstruction and spine markets.
Source: NN, Inc.
From the ORTHOKNOW® Archive:
To keep up with the rate of expansion of outsourced orthopaedic products, smaller to mid-sized contract manufacturers will be forced to either join forces with others or invest heavily in organic growth.
Supplier M&A activity is a direct response to device company consolidation and desire for one-stop-shop supplier partners that can offer breadth of capability, capacity and geographic reach, while keeping costs in check. A portion of that supplier activity is being funded by private equity firms that seek to combine their strengths in manufacturing and bolt-on acquisitions to capitalize on orthopaedics’ transition to a less-fragmented industry. Read about this tactic in "Orthopaedic Supplier M&A Boosted by Private Equity Backing" from August 2017.