Phillips-Medisize Acquires Medicom

• Enhances Leading Position in Drug Delivery Device Solutions
• Expands Global Design and Services Network to Over 500 Best-in-Class Engineers Across Six Facilities Worldwide

Phillips-Medisize Corporation (the “Company”) recently announced that it has acquired Medicom Innovation Partner (“Medicom”), a leading provider of device strategy, product design and development services with particular focus on personal connected health drug delivery device solutions to meet the needs of the rapidly growing biopharma and specialty pharmaceutical markets. Terms of the transaction were not disclosed.

Through this acquisition, Phillips-Medisize will bolster its leading position in drug delivery device solutions. Together, the combined company will have over 500 engineers across facilities in Hudson, WI; Mountain View, CA; Hillegom, Netherlands; Struer, Denmark; Cambridge, United Kingdom; and Suzhou, China. The addition of Medicom’s capabilities expands Phillips-Medisize’s end-to-end injectable and inhalation device innovation service solutions for biopharma customers, including early device strategy, human factors engineering, product development, clinical production, full scale production and integrated supply chain management.

Matt Jennings, Chairman, CEO and President of Phillips-Medisize, said, “This transaction is consistent with our strategic focus on serving the rapidly growing diabetes, biologics, specialty pharmaceutical and personalized oncology markets that need these products and reinforces our leading position in drug delivery device solutions. Medicom’s impressive solutions, 25 years of expertise and 100+ state-of-the-art technology accelerators, coupled with Phillips-Medisize’s scale in design to manufacturing of high to low volume production drug delivery devices, will provide customers with end-to-end integrated service solutions, resulting in increased speed to market. We are excited to welcome the talented Medicom team to Phillips-Medisize and look forward to working together to deliver services and solutions that improve patient compliance and outcomes."

“We are pleased to partner with Phillips-Medisize, a recognized global leader with an impressive track record of delivering a broad and deep set of capabilities to customers. We are confident that customers of both companies will benefit from an enhanced offering of end-to-end integrated service solutions across a global network while continuing to receive the same best-in-class service that they have come to expect,” said Morten Nielsen, CEO of Medicom. “Importantly, our companies are culturally aligned and we share the same deeprooted passion for innovation which improves our customers’ competitiveness.” Medicom will continue to be led by Mr. Nielsen and Medicom’s existing management team. Mr. Nielsen will report to Bill Welch, Phillips-Medisize’s Chief Technology Officer and global leader of preproduction services.

About Phillips-Medisize Corporation
Phillips-Medisize is a leading global outsource provider of design and manufacturing services to the drug delivery and combination products, consumable diagnostics and medical device, and specialty commercial markets. The company has annual sales of over $650 million with 80% of the total revenue coming from drug delivery, medical device, primary pharmaceutical packaging and diagnostic products such as: disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single use surgical devices and consumable diagnostic components.

Phillips-Medisize Corporation features a list of blue chip medical device, pharmaceutical and specialty commercial customers. The company partners with its customers to provide design and development services which accelerate speed to market of innovative products and then works with its customers to deploy advanced automated assembly and quality control technologies which reduce manufacturing cost while improving quality. The company’s core advantage is the knowledge of its people to integrate design, molding, and automation to drive low cost and high quality manufacturing solutions.

Phillips-Medisize Corporation is headquartered in Hudson, WI, and employs over 3,800 people in 14 production locations throughout the United States, Europe, Mexico and China. The company also has design centers in Hudson, WI; Mountain View, CA; Hillegom, Netherlands; and Suzhou, China.

About Medicom Innovation Partner
Medicom Innovation Partner is a leading global innovation, development and low-volume production provider focused on Drug Delivery Devices and Connected Health solutions for the high-value rare disease and orphan drug market. Medicom Innovation Partner was established as a technology venture of Bang & Olufsen A/S back in 1989 and the company has been a dominant player within the Drug Device world for more than 25 years. Medicom hold a dedicated staff of more than 90 high caliber innovation specialists, mechanical, hardware, software, quality assurance, regulatory and production engineers based in Struer, Denmark and Cambridge, UK. Medicom have experienced considerable growth over the last 4 years.