Technology and engineering firm Accuron Technologies Ltd, a unit of Temasek Holdings (Pte) Ltd, has acquired a majority stake in medical devices maker Aurum Healthcare Sdn Bhd, according to Singapore’s Straits Times. It was reported that this was the sixth medical technology-related deal for Accuron Medtech Group, a division within Accuron Technologies, in the last 2½ years.
Accuron Technologies, on announcing the deal yesterday, said in the report that its medtech division was set up to take advantage of opportunities in the global medtech market, which is projected to reach US$537bil by 2020. The Straits Times quoted Accuron Technologies as saying that Asia Pacific was the fastest-growing region and is forecast to become the second-largest market for medtech at US$133bil by 2020.
“Our operating businesses provide therapeutic, diagnostic and medical device solutions to customers internationally through our direct presence in the United States, Europe, China, Japan and Singapore. “By adding a commercial and manufacturing presence in Malaysia through Aurum, we believe this deal will be beneficial for our group operating companies,” said Accuron Medtech group chief executive officer Abel Ang. The report also said that Accuron Medtech would place Aurum under Advanced Materials Technologies (AMT), its Singapore-based contract manufacturing partner.
The acquisition is said to increase AMT’s manufacturing footprint from its current 120,000 sq ft of facilities located in Tuas, Singapore, and Dongguan City, China, to include Aurum’s 20,000-sq-ft facility at the Setia Business Park in Johor Baru.
The Straits Times also said that Aurum’s facility could provide sterilisation services for medical devices and instruments as well as clean room manufacturing and assembly services. AMT is said to specialise in metal injection moulding and 3D metal printing for high precision and complex metal parts used in the medical device sector such as the metal components found in endoscopes and robotic surgery instruments. The addition of Aurum’s capabilities meant that AMT will expand its original equipment manufacturer expertise to include manufacturing of plastic medical consumables such as those used in heart bypass, catheterisation or angiography procedures, according to the report.