Latest news with #StraitsOrthopaedics
New Straits Times
3 days ago
- Business
- New Straits Times
Penang's medtech industry a 'hidden gem' with strong growth potential
GEORGE TOWN: Penang's medical technology (medtech) industry is rapidly emerging as one of the state's most promising sectors, driven by strong global demand, robust local capabilities, and a well-established ecosystem. InvestPenang chief executive officer Datuk Loo Lee Lian said the state's expertise in precision engineering and automation, developed through its thriving semiconductor industry, has been instrumental in the growth of the medtech sector in the state. "In the semiconductor industry, precision and automation are essential, and these competencies translate directly into the production of surgical instruments, implants, and high-accuracy medical devices. "In fact, medtech often requires even greater precision than the semiconductor industry," she told Bernama. The medtech sector also benefits from its synergies with the electrical and electronics manufacturing (ecosystem), as medical devices such as pacemakers, glucose monitoring systems, and diagnostic equipment rely on sophisticated electronic and mechanical components. Loo described the medtech sector as a "hidden gem" because unlike the cyclical semiconductor sector, it offers steady growth and higher profit margins, enabling companies to invest more in training talents. "This stability also attracts talent, as jobs in the sector are less vulnerable to sudden hiring freezes or retrenchments," she said. Globally, she noted, leading medtech clusters include the United States (US), Ireland, Puerto Rico, and Costa Rica, countries where government support has spurred industry growth over the past decade. In recent years, many companies have expanded into Asia due to rising cost pressures, shift in policies, and the region's growing, wealthier, and ageing population. She said companies find it attractive to set up operations in Penang when expanding into Asia, thanks to its mature industrial base, skilled workforce, and a well-developed supplier network. Moreover, local participation in the sector is also rising, with homegrown firms such as Straits Orthopaedics (Mfg) Sdn Bhd and UWC Healthcare, now serving the global market. Loo said InvestPenang has facilitated its growth by organising exhibitions and engagement sessions with the Health Ministry and industry partners to showcase products and encourage the companies' inclusion in government procurement. However, she noted that medtech companies in Penang face three key challenges: the US Trade Agreements Act which restricts the value of Malaysian-supplied products in US government contracts; geopolitical tensions and tariffs; and ongoing supply chain disruptions. Despite these hurdles, Loo is optimistic about prospects over the next five years and InvestPenang is constantly in talks with several medtech companies on potential investments. "With Asia's ageing and increasingly affluent population, demand for advanced medical devices is set to rise. We expect to see more global names here, particularly in higher-end products, and we aim to strengthen the role of local companies in this space," she added.
Yahoo
25-07-2025
- Business
- Yahoo
Straits Orthopaedics Expands Global Footprint with Acquisition of U.S.-Based Medin Technologies, Strengthening Orthopaedic Manufacturing Portfolio
PENANG, Malaysia, July 25, 2025--(BUSINESS WIRE)--Straits Orthopaedics (Mfg) Sdn Bhd ("Straits"), a leading Malaysia-based contract manufacturer specializing in the precision machining of orthopaedic implants and surgical instruments, today announced the successful acquisition of Medin Technologies, Inc. ("Medin"), a U.S.-based manufacturer of sterilization cases and trays for the orthopaedic sector operating two facilities in Totowa, New Jersey, and Manchester, New Hampshire. 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 OrthopaedicsFounded 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 for more information. About Quadria CapitalFounded 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. For more information, please visit View source version on Contacts Media Contact: Yvette Sign in to access your portfolio
Business Wire
25-07-2025
- Business
- Business Wire
Straits Orthopaedics Expands Global Footprint with Acquisition of U.S.-Based Medin Technologies, Strengthening Orthopaedic Manufacturing Portfolio
BUSINESS WIRE)--Straits Orthopaedics (Mfg) Sdn Bhd ('Straits'), a leading Malaysia-based contract manufacturer specializing in the precision machining of orthopaedic implants and surgical instruments, today announced the successful acquisition of Medin Technologies, Inc. ('Medin'), a U.S.-based manufacturer of sterilization cases and trays for the orthopaedic sector operating two facilities in Totowa, New Jersey, and Manchester, New Hampshire. 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 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.
