Hebron, Ill.-based ITW Medical Products, a division of Illinois Tool Works, has completed the purchase of Lebanon, Tenn.-based Coeur Holding Company, a provider of disposable medical products used in diagnostic imaging and other medical procedures. Coeur had been owned by The Riverside Company since 2008. Terms of the transaction were not disclosed.
According to Riverside officials, their firm focused on enhancing Coeur’s management team and improving the efficiency of its manufacturing operations in addition to other initiatives.
“We’re proud of the progress Coeur was able to make while working with the Riverside team,” said Riverside Partner Steve Dyke.
“Coeur has great customer focus, innovative medical products and a talented leadership team,” said Jim Van Ingen, ITW group president.
“I am excited about joining ITW,” said Coeur’s CEO Jay Cude. “The company is committed to the medical products market and is planning on investing in Coeur’s growth. Our customers will also have access to the ITW Medical Products Filtertek line of products.”
ITW’s Filtertek product line is comprised of custom plastic insert molded filtration and flow control components for global OEM medical device customers. ITW Medical Products will continue selling both Coeur products and the Filtertek line under their respective brands.
“Both Coeur and Filtertek have strong brand equity and a history of providing innovative medical products to OEM medical device customers who demand excellence.” said Law Burks, vice president and general manager of ITW. “ITW Medical Product customers will now have access to a broader range of fluid management, filtration, flow control and tubing products.”
ITW Medical Products Completes Coeur Buyout
Published October 10, 2012
blog comments powered by Disqus