Heraeus Holding, a leading international family-owned portfolio and Global FORTUNE 500 company, today announced its acquisition of Norwood Medical, a premier full-service provider of advanced outsourced medical manufacturing solutions in three key markets: minimally-invasive surgery, orthopaedics and robotic-assisted surgery. Heraeus also announced that Norwood Medical will continue to operate as a standalone business and retain its company name and management team.
Based in Dayton, Ohio with over 1,100 employees, Norwood Medical brings highly complementary capabilities to the Heraeus medical technology portfolio of businesses, which include contract manufacturing of medical components and devices, the specialized production of active pharmaceutical ingredients (APIs) for life-saving drugs and treatments, and the developer and manufacturer of PALACOS, the world’s leading brand of bone cement for orthopaedic joint replacement surgeries.
Jan Rinnert, Chairman of the Board of Managing Directors and CEO of Heraeus Holding, said, “Heraeus and Norwood Medical share a common vision for transforming medical technology to help our customers deliver innovations that produce better outcomes for patients. When we began discussions, it was evident that Norwood checked all the boxes: an experienced team, an outstanding innovation culture and a track record of manufacturing excellence. We are very confident we can accelerate their growth and penetrate new markets around the world.”
Ken Hemmelgarn, Jr., the Vice President of Finance of Norwood Medical, said, “Growing our business, expanding our capabilities and delivering greater value to our customers and the end-patient have always been the guiding principles of our strategic approach. By joining Heraeus and capitalizing on their global reputation as a market leader in medical technology, Norwood will be able to scale our business and achieve our mission.”
Norwood Medical was actually founded as a tool and die manufacturing operation in 1927. Throughout the 1980s and 1990s, the company evolved into component manufacturing, and medical component manufacturing and assembly become its sole focus by the early 2000s. Today, Norwood Medical provides the medical device industry’s largest and best-known companies with a full range of specialized, precision manufacturing and secondary processing and assembly. Utilizing robotics and automation at its 650,000 square-foot facilities in Dayton, Norwood manufactures high-precision components for three critical treatment areas:
- Minimally invasive surgical (MIS) instruments: Norwood is the preferred partner of choice by leading medical device OEMs for MIS technology, including cutting and stapling systems, clip appliers and cutting and cauterizing solutions.
- Robotic-assisted surgery (RAS): Norwood produces complex instruments and components for RAS systems that use mechanically controlled operating arms and high-definition cameras that assist the surgeon.
- Orthopaedics: Norwood manufactures and assembles medical devices used for a variety of orthopaedic procedures, including arthroscopic surgery, spinal, trauma, joint reconstruction and sports medicine.
Brian Hemmelgarn, the Vice President of Sales, Engineering and Business Development of Norwood Medical, added, “Norwood has been a family company for 40 years, and it is gratifying that the next chapter of our company will be as part of Heraeus, one of the most respected family companies in the world. We share the same values and vision when it comes keeping the patient at the center of everything we do. We are both committed to using our expertise to help customers develop and deliver medical technology breakthroughs that improve patient care and treatment outcomes.”