Straits Orthopaedics Expands Global Footprint with Acquisition of U.S.-Based Medin Technologies, Strengthening Orthopaedic Manufacturing Portfolio
This strategic acquisition represents a pivotal step in Straits' growth trajectory, reinforcing its commitment to broadening both its product offerings and global manufacturing capabilities. With over 20 years of experience serving the global orthopaedic market, Straits is now uniquely positioned to deliver a more integrated and expansive suite of solutions to its global OEM partners.
Hans de Waal, General Manager of Medin, said, 'Medin Technologies is excited to become a part of the Straits Orthopaedics organization. Our company has been serving the orthopaedic market since 1979 and has become a major player in the case and tray market. Joining Straits enables the company to provide solutions across multiple segments as a global CMO capable of delivery fully kitted instrument sets ready for distribution.'
'We are excited to add Medin's case and tray product lines to our broad array of manufacturing capabilities,' said Scott Gareiss, CEO of Straits. 'Medin is recognized for their design expertise, vertical integration, and innovative quality controls for case and tray production used in systems for joint replacement, trauma, extremities, spine, power equipment, and more for medical device OEM's. The combination of Straits and Medin will enable us to serve our customers more broadly.'
Ewan Davis, Partner at Quadria Capital and Board Director of Straits Orthopaedics, added, 'The addition of Medin demonstrates our continued focus on investing in and expanding the scope of services provided by Straits for our customers and ultimately increasing patient impact across the world. The combined businesses create a truly global footprint and is testament to the ambition and capabilities of this Malaysian orthopaedic contract manufacturing champion.'
Kirkland & Ellis and PwC served as advisors to Quadria and Straits.
About Straits Orthopaedics
Founded in 2003 by TH Su in Penang, Straits Orthopaedics manufactures implants and instruments as a contract manufacturer serving orthopaedic OEM customers. Straits is a vertically integrated provider of precision machined products with in-house surface treatment, heat treatment, and sterile packaging. Please visit www.straitsortho.com.my for more information.
About Quadria Capital
Founded in 2012, Quadria Capital is Asia's premier healthcare investor managing over US$4 billion in assets across 27 investments in South and Southeast Asia including India, Vietnam, Indonesia, Malaysia and Singapore. Quadria Capital aims to create significant and sustainable shareholder value by partnering with exceptional healthcare businesses to enhance their impact and scale, while generating superior returns for investors.
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