Heraeus Holding announced today that it has purchased Dayton, Ohio–based Norwood Medical.
Norwood Medical and its more than 1,100 employees make high-precision components in three key medical device markets: minimally-invasive surgery, orthopedics and robotic-assisted surgery.
The financial terms of the deal were not disclosed. Norwood Medical will continue to operate as a standalone business and retain its company name and management team.
“When we began discussions, it was evident that Norwood checked all the boxes: an experienced team, an outstanding innovation culture and a track record of manufacturing excellence. We are very confident we can accelerate their growth and penetrate new markets around the world,” Heraeus Holding CEO Jan Rinnert said in a news release.
Ken Hemmelgarn Jr., the VP of finance of Norwood Medical, said merging with Heraeus will enable it to capitalize on the Hanau, Germany–based giant’s global reputa…