BERWYN, PA – Global manufacturing giant AMETEK, Inc. (NYSE: AME) has announced the successful completion of its acquisition of Paragon Medical. The all-cash transaction, valued at approximately $1.9 billion, marks a significant expansion of AMETEK’s presence in the medical technology industry.
Paragon Medical is a leading provider of highly engineered medical components and instruments. With this acquisition, AMETEK bolsters its portfolio with Paragon’s wide range of specialty applications including orthopedics, minimally invasive surgery, robotic surgery, and drug delivery.
“We are excited to welcome the Paragon team to AMETEK,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “Paragon’s outstanding capabilities and market leadership align seamlessly with AMETEK’s commitment to delivering high-performance solutions, further broadening our presence in the attractive MedTech industry.”
Paragon Medical’s product portfolio includes single-use and consumable surgical instruments and implantable components. These products are sold to a diverse, blue-chip customer base of leading medical device manufacturers.
With annual sales of approximately $500 million, Paragon Medical will now operate as part of AMETEK’s Electromechanical Group (EMG). EMG is a differentiated supplier known for its thermal management, automation, and engineered solutions.
The acquisition of Paragon Medical represents a strategic move for AMETEK, enabling it to leverage Paragon’s expertise and customer base to enhance its offerings in the medical technology sector.
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