Elos AB, of Gotene, Sweden, a manufacturer of high precision implants and components used in medical technology, has entered into an agreement to acquire the American firm, Onyx Medical Corporation, of Memphis, Tennessee.
The acquisition of Onyx is part of Elos’ strategy to focus on the growth segments of the medical device industry such as trauma, spine and extremities. Onyx Medical employs 120 people in its facilities in Memphis, Tennessee. Elos’ operations are conducted at facilities in Sweden, Denmark and China. Customers consist primarily of international medical-technology companies.
Officials expect to close the deal in April 2015. Onyx will continue its existing operations as a business unit within the Elos group and serve as a platform for expansion within the United States.
“With this acquisition, Elos gains access to the North American Orthopaedic Trauma and Extremities markets which represent approximately 50 percent of the world market”, said Elos President and CEO Johannes Lind-Widestam.
