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Orthopedic
Industry Supplier News |
| Return to Supplier News Contact: Tabitha Cooper, Paragon Medical, Inc., 574-594-2140 August 23, 2006Paragon Medical Acquires Medical Metal Finishing Division from Hand Industries (Pierceton, IN) – Paragon Medical, Inc. has decided to take a recently orchestrated strategic alliance one step further by announcing it has acquired the Medical Metal Finishing Division of Hand Industries, Inc., a Warsaw, Indiana based specialist in metal finishing. Tobias Buck, Chairman and CEO of Paragon Medical stated, “With Hand Industries being one of the largest outside processors of orthopaedic metal finishing in the United States, and Paragon Medical’s strategic industry positioning, it became clear that a transition from an alliance to a wholly owned entity embraces the OEM’s desire for continuity across the entire manufacturing process.” The combined entity brings over 65 years of experience and outstanding benefits to the medical device industry, particularly to those who are engaged in the large joint segment of hips and knees.Hand expands Paragon’s capability to provide quality metal finishing services geared to meet both high and low volume demands for its client community, while managing difficult requirements for very tight tolerances. Cory Colman, Executive Vice President of Business Development added, “The acquisition broadens the scope of Paragon’s core capabilities and builds on our reputation for being a single source provider to the global medical marketplace.” Over the next several months, Paragon will transition the employees and the equipment of Hand’s Medical Metal Finishing division to its 100,000 square foot dedicated instrument and implant manufacturing facility in Pierceton, Indiana. About Paragon Medical, Inc. Paragon Medical is a single source, turnkey supplier of surgical instruments, implantable components, custom and standard instrument delivery systems to the worldwide medical device marketplace, with a concentration in the hip, knee, spine, trauma and sports medicine disciplines. Incorporated in 1991, Paragon Medical's utilization of advanced manufacturing technology, UG® certified engineers, rapid prototyping, virtual information transfer and vertical integration allows them to adapt a wide range of services to support the strategic needs of the customer, with innovative solutions. Offices and production facilities are located in Pierceton, Indiana; Memphis, Tennessee; Fairfield, New Jersey; Pompano Beach, Florida; Smithfield, Utah; and Lausanne, Switzerland. More information about the company may be found at www.paragonmedical.com. About Hand Industries, Inc. Established in 1956, Hand Industries is one of the largest outside processors of orthopedic metal finishing in the United States. Having processed in excess of 1,000,000 prosthetic components, Hand Industries has acquired extensive expertise in a wide range of metal finishing services including polishing, buffing, sand-blasting, inspection and cleaning. Their quality metal finishing services are geared to meet both high and low volume demands while managing the difficult requirements of very tight tolerances. With specialty departments that include research and development engineers, Hand Industries produces small quantity custom products and manages a wide range of prototypes for product development applications. Other Hand divisions include aviation, recognition products, agriculture and communications. Offices and production facilities are located in Warsaw, Indiana. More information about the company may be found at www.handindustries.com |