Nordson has entered into a definitive agreement to acquire Vention Medical’s Advanced Technologies (Vention AT) business for $705 million in an all cash transaction. Vention AT designs and sells minimally invasive interventional delivery devices, catheters and advanced components for the global medical technology market. The U.S.based Vention AT reported sales of $150 million and EBITDA of $48 million for the trailing twelve months ended January 31, 2017.
“We are extremely pleased to add a high quality, differentiated market leader in minimally invasive delivery devices and components to Nordson’s existing medical platform,” said Michael F. Hilton, Nordson President and Chief Executive Officer. “This acquisition aligns with the medical growth strategy we have consistently articulated, brings significant scale to what is already one of Nordson’s fastest growing businesses, and enhances strategically important capabilities including design and development, extrusion, complex medical tubing and balloon manufacturing, nitinol forming and other specialty material expertise. We see Vention AT as an ideal complement to our current offering of single-use fluid management components, biomaterial delivery devices, and high end cannula and tubing, and we are excited to bring our combined capabilities to the many leading medical OEM customers we share.”
Vention AT employs approximately 775 people and will operate as part of Nordson’s Advanced Technology Systems segment.