Micromedics Acquires Santa Barbara Medco
Ear, Nose and Throat Device Manufacturer Gains Distribution Channel to the Over-the-Counter Market
Saint Paul, Minnesota – June 18, 2007 – Micromedics Inc., a developer, manufacturer and marketer of medical devices for the ear, nose and throat (ENT) market, has acquired Santa Barbara Medco, Inc., a developer of over-the-counter ear protection products based in Santa Barbara, Calif. Terms of the transaction were not disclosed. The acquisition immediately increases Micromedics’ revenue by 15 percent and provides a distribution channel to the over-the-counter market.
“Santa Barbara Medco’s products complement our current product lines and this acquisition gives us access to an efficient sales avenue,” said Curt Miller, Micromedics founder and CEO. “We see strong opportunities to grow through expansion of our product lines and by distributing products to the large over-the-counter market.”
“Santa Barbara Medco has developed a strong portfolio of brands in the ENT market, and we look forward to seeing the product lines continue to grow under Micromedics,” said Richard Ambrose, Santa Barbara Medco.
In addition to over-the-counter products, Santa Barbara Medco sells directly to consumers and physicians’ offices. Product lines include Physician’s Choice™ Ear Drops, Ear Putty and Foam Ear Plugs; Eavey Ear Easy Wrap™ Ear Bands; and Swimmer’s Choice™ Ear Drops. The company was founded in 1980.
In the past year, Micromedics has introduced several medical products ranging from biomaterials applicators to implants for use in ENT surgery. Additionally, the company continues to support the rapid growth of the EarPopper™, a small, hand-held device for treating ear pressure and middle-ear fluid.
The acquisition comes as Micromedics approaches its 25th anniversary in August 2007. Miller added, “This is an exciting time for Micromedics. Our products are now available in 40 countries around the world, and we have built a strong reputation for innovative, rapid product development and high-quality manufacturing. We look forward to celebrating 25 years in business and future growth.”
Micromedics began as a developer and manufacturer of microsurgery products. Its first product was implantable ear ventilation tubes. Currently, the company manufactures four product lines: products for otolaryngology, products for organizing and protecting surgical instruments, applicators for biomaterials and the EarPopper. Micromedics also privately labels its products for distribution by other medical device companies.
Micromedics Inc., a privately held company based in St. Paul, Minn., was founded in 1982. The company develops, manufactures and markets proprietary devices for surgery, including implants and instruments for ear, nose and throat surgery; cassettes for organizing and protecting surgical instruments during sterile reprocessing; and applicators for biomaterials. Micromedics markets its products and services through a worldwide network of independent representatives and distributors. To learn more about Micromedics products, visit www.micromedics.com or call 800-624-5662.