HUDSON, N.C., Sept. 1, 2017 /PRNewswire/ -- BeoCare Group Inc., one of the leading North-American manufacturers of knitted medical textiles and Fra Production S.p.a of Italy have entered into a strategic alliance. As part of the transaction Fra Production has acquired a minority stake in BeoCare's capital through a capital increase, which will give BeoCare additional working capital to expand its US market presence. Both companies will continue to operate in their respective markets under their own brand names. At the same time they will integrate their product portfolio and production capabilities in Europe and the USA.
As a result of the alliance, BeoCare - which will become Fra's distributor in the USA - will expand its product range, by offering Fra products such as the mesh fixation pants and the patented Surgifix tubular netting, as well as a wide range of bandages. BeoCare is expanding its manufacturing plant in Hudson, NC so it can manufacture more of these mesh fixation products in the USA, under license from Fra Production.
At the same time Fra Production will become the sole European distributor for all BeoCare products, including seamless fixation pants, maternity and surgical garments and all elastic products, which were added to the BeoCare product offering since the acquisition of Shelby Elastics in 2014. "We believe this alliance presents a huge opportunity for both companies," says Fra Production's CEO Andrea Colombo. "It creates a truly global group, which will be able to better meet the global needs of our clients."
BeoCare, which employs 125 people in Hudson, NC, is the leading domestic OEM contract manufacturer of knitted textile products for use in fixation, compression and support. BeoCare is certified ISO 9001 & ISO 13485 and counts some of the largest medical distributors in the US amongst its clients. "We are very excited about the new partnership with Fra," says BeoCare-CEO Peter Vanderbruggen. "It allows us to remain a US-based manufacturer, while at the same time being part of a larger multinational group with strong representation on two continents."
Fra Production Spa is a world leader in designing and manufacturing cutting-edge medical, food, agricultural, and industrial products. Having been on the Italian and international markets for over 55 years, Fra Production manufactures and supplies medical tubular elastic netting for dressing retention under its ground-breaking Surgifix patent, as well as elastic mesh pants and bandages. The company mission is to improve customer satisfaction every day by offering innovative products, awarded with top certifications and designed in every detail to offer top quality products and unrivaled service.
SOURCE BeoCare Group Inc.