Sulzer, a Swiss industrial engineering and manufacturing firm, has agreed to acquire Swiss-German drug delivery device developer and manufacturer Haselmeier for an enterprise value of EUR100 million ($118 million).

Haselmeier is a leading, own-IP provider of drug delivery devices such as subcutaneous self-injection pens for use in fast growing indications such as reproductive health, growth disorders, osteoporosis and diabetes.

With the acquisition of Haselmeier, Sulzer will complement its healthcare portfolio and leverage its APS expertise in precision injection molding to seize growth opportunities in the fast-growing drug delivery devices market.

The integration of the acquired business in Sulzer’s APS division is expected to generate cost synergies through insourcing and leveraging the scale of the combined businesses. The transaction is expected to close on October 1, subject to customary conditions.

Girts Cimermans, President of Sulzer APS, said: “We are excited to welcome the Haselmeier team into the APS family. Haselmeier has a successful track record of providing innovative drug delivery devices based on its proprietary IP business model.

“We believe that we will add to the success story by providing financial strength and precision injection molding capabilities, thereby accelerating the company’s growth. Furthermore, combining our expertise in liquid mixing applications with Haselmeier’s drug delivery competence, will benefit our pharmaceutical customers providing them with innovative and differentiated devices and services.” – TradeArabia News Service