FRANKLIN, Mass., Nov. 14, 2016 /PRNewswire/ -- Tegra Medical, a premier medical device contract manufacturer, today announced that SFS Group AG, a leading provider of customized precision formed components and mechanical fastening systems headquartered in Heerburg, Switzerland, is acquiring the company. Tegra Medical will become an SFS company and will continue usual operations under the Tegra Medical brand, with headquarters still located in Franklin, MA. The senior management team, including President & CEO J. Mark King, CFO Craig Campbell, VP Sales and Marketing Lee Crowe and VP GENESIS Tech Center Mike Treleaven will remain. J. Mark King will also take a position on the SFS Group Executive Board. Terms of the transaction have not been disclosed.
As the medical device marketplace evolves to support more outsourcing to contract manufacturers, this acquisition positions Tegra Medical to more easily grow along with its customers, while adding increased capabilities from SFS such as micro molding and cold forming. "As an end-to-end solutions provider, we are focused on meeting and exceeding our customers' expectations," said Tegra Medical President & CEO J. Mark King. "We're all about being responsive and flexible; as an SFS company we'll have even more resources to help us expand and offer what our customers need, where and when they need it."
"This is an exciting time for the SFS Group because we've been looking for the right manufacturer to add focused medical device expertise to our company," said Jens Breu, SFS Group CEO. "We are impressed with the breadth of Tegra Medical's capabilities, the depth of their skills and experience, and the deep commitment of their employees. Not only is the company a great fit with our current manufacturing capabilities, we see synergy in terms of company principles, which include partnership, respect and a focus on the community."
About Tegra Medical
Known as the company that brings medical devices to life, Tegra Medical is focused exclusively on the medical device industry, providing end-to-end solutions from prototyping to full production, and from complex components to finished medical devices. Offering a wide range of manufacturing technologies, the company creates devices used in cutting-edge procedures for leading surgical, interventional and orthopaedic companies. Tegra Medical has 200,000 sq. ft. of modern manufacturing space in four locations in the U.S. and Costa Rica and is ISO 13485:2003 and FDA registered and QSR compliant. The company combines a broad spectrum of capabilities with a can-do culture to deliver exceptional quality, solutions, speed and service.
About SFS Group
SFS is a global market leader for mechanical fastening systems and precision formed components. SFS Group is organized into three business segments: Engineered Components, Fastening Systems and Distribution & Logistics which represent the three business models. In the Engineered Components segment, SFS partners with customers to develop and manufacture customer-specific precision formed components, fastening solutions and assemblies. The segment operates in the Automotive, Electronics and Industrial divisions and sells its products under the SFS intec (Automotive, Industrial) and Unisteel (Electronics) brands. In the Fastening Systems segment, consisting of the Construction and the Riveting divisions, SFS develops, manufactures and markets application-specific mechanical fastening systems under the SFS intec (Construction) and GESIPA (Riveting) brands. In the Distribution & Logistics segment with the SFS unimarket brand, SFS is a leading provider of fasteners, tools and architectural hardware as well as innovative logistics solutions in Switzerland. SFS Group is a global player with manufacturing sites and distribution companies at more than 70 locations in 25 countries around the world. Sales in business year 2015 amounted to CHF 1.376 bn and the work force numbered approximately 8,300.
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SOURCE Tegra Medical