Medical Manufacturing Technologies (MMT), a provider of medical device solutions, is set to acquire Somex Automation, an Ireland-based provider of custom automation equipment and processes for the medical device manufacturing industry. The transaction will allow for MMT to integrate its end-to-end medical device manufacturing capabilities with Somex’s history of implementation.
With the acquisition, Somex will become a flagship offering of the MMT Automation brand — a brand to streamline its subsidiaries automation offerings — positioning Somex to customers across its portfolio.
"As a global leader of medical device manufacturing equipment and processes, we streamlined shared technologies and processes to ensure our customers have access to the solutions they need when they need them," said Robbie Atkinson, CEO of MMT. "MMT Automation aligns our automation expertise across the portfolio where we can most effectively help our customers create autonomous manufacturing and continuous optimization of production lines."
Michael Wall, managing director and founder of Somex, echoed Atkinson’s comments. "This transaction allows us to grow the bespoke automation and integration solutions offered to medical device manufacturers across the globe," he said. "We will be able to leverage the strengths of both companies and create an even more powerful offering for our customers."
Wall will transition to technical director of MMT after the completion of the acquisition.
Somex, a supplier of bespoke automation equipment, has capabilities in 3D mechanical design, control engineering design, material selection utilizing standard components, control programming, final assembly and test, installation and support, an extensive network of sub-contract manufacturers, creation of machine validation documentation, and prototyping and process development.
MMT has a broad portfolio of solutions for developing and manufacturing complex medical devices used in minimally invasive procedures. As part of the transaction, the company will take on 34 new employees from Somex who will continue to operate out of its Cork and Ballyvourney facilities.
“Our customers have recognized the need to create a more autonomous production line and are looking for ways to make that happen with their current and future operations," Rich Warren, chief commercial officer at MMT, told MD+DI. "These acquisitions allow us to seamlessly link our end-to-end medical device manufacturing solutions to support our customers on their journeys to increase production, expand their 'lights out' operation capabilities, and solve their unique manufacturing challenges. The expanded capabilities are a milestone for our company as they strategically position us to compete in the high-growth market of advanced automation and integration for the medical device manufacturing industry. We are excited to bring such strong business units with highly skilled employees into our family.”
The announcement of the acquisition is in stark contrast to current events in the medtech industry, namely the overwhelming number of layoffs from both large and small companies. Just recently, Thermo Fisher announced it was cutting 230 positions, and ZimVie eliminated 5% of its workforce. On the manufacturing side however, there continues to be employee shortages and companies, at least currently, haven’t seen a downturn in production. Much like MMT and Somex, manufacturers continue M&A while OEMs shrink to bare bones. The question remains whether the manufacturing industry will be able to weather the poor economic storm hitting its OEM counterparts or if its yet to start raining.
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