Back in late February it was announced that Sandvik’s Medical arm, Sandvik Medical Solutions was to be acquired by Orchid Investments in a deal the details of which were at the time undisclosed. We covered the story here.
Now, in an update to the announcement, a press release has been issued by parent company Sandvik confirming the completion of its divestment of Sandvik Medical Solutions to Orchid Orthopedic Solutions, itself owned by Altor Fund III.
Sandvik Medical Solutions specialises in contract manufacturing of medical implants and instruments for orthopaedic and dental applications. According to Sandvik, its divestment of Sandvik Medical Solutions is in line with Sandvik’s strategy to exit operations outside of the defined core businesses.
The product area will be fully consolidated into Orchid Orthopedic Solutions from the second quarter in 2012 and will sit comfortably alongside the company’s contract design and manufacturing for the orthopedic, dental, and cardiovascular operations.
Further details of the transaction have not been provided.
Source: Sandvik, Business Wire