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Novanta, a trusted technology partner to medical and advanced technology equipment manufacturers, has announced the closing of its acquisition of World of Medicine GmbH (World of Medicine) for €115 million in cash.
World of Medicine, based in Berlin, Germany, is the leading supplier to original equipment manufacturers ("OEMs") of regulatory controlled medical insufflators, pumps, and related disposables for the minimally invasive surgical market. The business operates as a full service provider to OEMs by developing customized solutions for mission critical applications, and by providing clinical validation, regulatory approval support, training and product servicing.
The Company financed this acquisition with its amended and restated credit facility. World of Medicine's revenue and profit contribution to Novanta's second half and full year 2017 financial results will be announced as part of Novanta's second quarter 2017 earnings release.
"We are very excited about the acquisition of World of Medicine, which accelerates our strategy of increased presence in medical end markets. This acquisition aligns well with our strategic priorities, and is expected to create substantial and lasting value for Novanta," said Matthijs Glastra, Chief Executive Officer of Novanta Inc.
Novanta acquires, world of medicine
