Accuron Technologies Acquires Majority Stake in Aurum Healthcare

SINGAPORE, July 5, 2016 /PRNewswire/ -- Accuron Technologies Limited, a technology and engineering holding company that is wholly-owned by Temasek Holdings, has today announced that the company has acquired a majority stake in Malaysia-based Aurum Healthcare Sdn Bhd (Aurum). This is the sixth medtech-related investment/ acquisition/ divestment that Accuron Medtech Group, a division within Accuron Technologies, has made in the last two and a half years.

Accuron Medtech division was set up to focus efforts on addressing opportunities in the global medtech market. This is because the global medtech market is projected to reach some US$537 billion by 2020, with the Asia Pacific being the fastest growing region at nearly 8% CAGR to become the second-largest market for medtech at US$133 billion by 2020.[1]

"Accuron Medtech welcomes Aurum Healthcare into our family of medtech businesses, which include Advanced Materials Technologies, Dornier MedTech and Veredus Laboratories. Our operating businesses provide therapeutic, diagnostic and medical device solutions to customers internationally through our direct presence in the U.S., Europe, China, Japan and Singapore. By adding a commercial and manufacturing presence in Malaysia through Aurum, we believe this deal will be beneficial for our group operating companies. Accuron Medtech companies can leverage upon each other's capabilities, networks and expertise in order to maximise their market and technology reach," said Mr Abel Ang, Group Chief Executive Officer, Accuron Medtech.

Accuron Medtech will position Aurum under Advanced Materials Technologies (AMT), a Singapore-based contract manufacturer, focusing on the medtech sector. The acquisition will increase AMT's manufacturing footprint from its current 120,000 sqft facilities located in Tuas, Singapore and Dongguan City, China to include Aurum's 20,000 sqft facility at the Setia Business Park, in Johor Bahru, Malaysia. Aurum's facility[2] is able to provide sterilisation services for medical devices and instruments, as well as clean room manufacturing and assembly services.

With over 25 years of experience, AMT specialises in metal injection molding and 3D metal printing for high precision and complex metal parts used in the medical device sector. For example, AMT manufactures the metal components found in endoscopes and robotic surgery instruments. Existing AMT medtech customers include companies in the urology, endoscopy and robotic surgery fields. The addition of Aurum's capabilities means that AMT will expand its OEM expertise to include manufacturing of plastic medical consumables, such as those used in heart bypass, catheterisation or angiography procedures.

"This acquisition of Aurum into the Accuron Medtech group of companies will help AMT transform into an integrated, end-to-end medical device outsourcing specialist. We plan to scale up and diversify in the fast growing medtech outsourcing sector in Asia. The combination of Aurum's capabilities with AMT's extensive experience transforms us into one of a few contract manufacturers globally that is able to offer a comprehensive, fully-integrated suite of medical device outsourcing services. This means that we are able to handle increasingly sophisticated product designs as well as a wider scope of manufacturing and assembly projects in a cost-efficient and shorter timeframe," said Mr Albert Ngoh, Chief Executive Officer, Advanced Materials Technologies Pte Ltd.

About Accuron Technologies Limited

Accuron Technologies Limited is a precision engineering and technology group that is wholly-owned by Temasek Holdings. Accuron Medtech is a division of Accuron Technologies, focused on the medical technology sector. Companies under its portfolio include Advanced Materials Technologies, Dornier MedTech and Veredus Laboratories. Accuron Medtech will strengthen and diversify its position within the medtech industry, as well as support its group operating companies, as they continue to grow and provide therapeutic, diagnostic and medical device solutions to customers around the world. For more information on Accuron Medtech, visit http://www.accuron.com/accuron-medical.html

About Advanced Materials Technologies Pte Ltd (AMT)

Founded in 1990, AMT is a leading contract manufacturer and OEM partner, delivering innovative and effective solutions for the medical, automotive and industrial industries. The company has established significant experience in advanced manufacturing processes, including metal injection moulding, 3D metal printing (additive manufacturing) and ceramic injection moulding. AMT has facilities in Singapore, Malaysia and China, including cleanroom manufacturing and assembly operations, R&D labs and sterilisation facilities. AMT is an ISO 9001 and ISO 13485 certified company and is also ISO/ TS16949 compliant. AMT's manufacturing processes and services have won numerous international awards, including the Metal Powder Industries Federation Awards and the European Powder Metallurgy Association Awards. AMT is a subsidiary of Accuron Medtech. For more information on AMT, visit http://www.amt-mat.com

About Aurum Healthcare Sdn Bhd (Aurum)

Aurum was established in 2011, as a medical devices manufacturer, focusing on developing products for cardiovascular, orthopaedics, anaesthesiology, nephrology and critical care applications. Aurum has built up in-house engineering, machining, moulding, rapid prototyping, product design and tooling capabilities. Aurum engages with industry and healthcare professionals to fine-tune its processes, ensuring that its customers receive safe, cost-effective and high quality medical products. Aurum's customers include globally-leading medical device companies. For more information on Aurum, visit http://www.aurumhealthcare.com

[1] "MedTech in Asia: Committing at scale to raise standards of care for patients" -- McKinsey & Company, Dec 2015

[2] This is an ISO 11135-certified ethylene oxide sterilisation facility and ISO-13485-certified manufacturing facility for medical devices.

SOURCE Accuron Technologies Limited