From Dayton Business Journal…
Midmark Corp. acquires Italian manufacturer Newmed
Date: Tuesday, November 23, 2010
The Versailles-based health care products maker announced Tuesday it has signed a deal to buy Newmed, S.r.L., which produces tabletop sterilization products and accessories for the medical, dental and animal health markets. The company’s products are sold throughout Europe and the Middle East, primarily to private dental offices and dental clinics.
Terms of the deal were not disclosed.
“With this alliance, Newmed and Midmark will create a portfolio of instrument processing technology that will bring efficiency and quality to healthcare environments around the world,” said Dr. Anne Eiting Klamar, president and chief executive officer of Midmark, in a statement.
Guido Chierici, Corrado Caiti and Luca Campani, founders and principles of Newmed, will remain with Midmark in similar leadership positions. Newmed employs about 30 people in Quattro Castella, Italy.
This year, Midmark has been on a growth spurt fueled by acquisitions and the release of new products.
Revenue, which was down 20 percent last year, has rebounded and Klamar expects Midmark to hit $250 million in sales this year “if all goes well.” That would make 2010 a record year. By comparison, the company reported more than $200 million in annual revenue in 2008. Local employment has grown by 20, to 820, in the last year.
Midmark spans more than 300,000 square feet across five buildings on its Darke County campus. The company has about 1,300 total employees when counting subsidiaries in California, Florida, Illinois, Kentucky, India and France. It makes just about everything found it an examination room — from patient chairs and tables to cabinets, sterilizers and imagining products — for the medical, dental and veterinary industries.