This is the sixth medtech-related investment/ acquisition/ divestment that Accuron Medtech Group, a division within Accuron Technologies, has made in the last two and a half years.
Accuron Medtech division was set up to focus efforts on addressing opportunities in the global medtech market.
This is because the global medtech market is projected to reach some US$537 billion by 2020, with the Asia Pacific being the fastest growing region at nearly 8% CAGR to become the second-largest market for medtech at US$133 billion by 2020.[1]
"Accuron Medtech welcomes Aurum Healthcare into our family of medtech businesses, which include Advanced Materials Technologies, Dornier MedTech and Veredus Laboratories. Our operating businesses provide therapeutic, diagnostic and medical device solutions to customers internationally through our direct presence in the U.S., Europe, China, Japan and Singapore.
"By adding a commercial and manufacturing presence in Malaysia through Aurum, we believe this deal will be beneficial for our group operating companies. Accuron Medtech companies can leverage upon each other’s capabilities, networks and expertise in order to maximise their market and technology reach," said Mr Abel Ang, Group Chief Executive Officer, Accuron Medtech.
Accuron Medtech will position Aurum under Advanced Materials Technologies (AMT), a Singapore-based contract manufacturer, focusing on the medtech sector.
The acquisition will increase AMT’s manufacturing footprint from its current 120,000 sqft facilities located in Tuas, Singapore and Dongguan City, China to include Aurum’s 20,000 sqft facility at the Setia Business Park, in Johor Bahru, Malaysia. Aurum’s facility[2] is able to provide sterilisation services for medical devices and instruments, as well as clean room manufacturing and assembly services.
With over 25 years of experience, AMT specialises in metal injection molding and 3D metal printing for high precision and complex metal parts used in the medical device sector.
For example, AMT manufactures the metal components found in endoscopes and robotic surgery instruments. Existing AMT medtech customers include companies in the urology, endoscopy and robotic surgery fields.
The addition of Aurum’s capabilities means that AMT will expand its OEM expertise to include manufacturing of plastic medical consumables, such as those used in heart bypass, catheterisation or angiography procedures.
"This acquisition of Aurum into the Accuron Medtech group of companies will help AMT transform into an integrated, end-to-end medical device outsourcing specialist. We plan to scale up and diversify in the fast growing medtech outsourcing sector in Asia.
The combination of Aurum’s capabilities with AMT’s extensive experience transforms us into one of a few contract manufacturers globally that is able to offer a comprehensive, fully-integrated suite of medical device outsourcing services.
"This means that we are able to handle increasingly sophisticated product designs as well as a wider scope of manufacturing and assembly projects in a cost-efficient and shorter timeframe," said Mr Albert Ngoh, Chief Executive Officer, Advanced Materials Technologies Pte Ltd.
