GOTHENBURG - Single use surgical products manufacturer Mölnlycke has acquired M&J Airlaid Products, the Danish manufacturer of absorbent nonwoven fabrics.
Financial terms of the deal were not disclosed.
With M&J’s airlaid technology critical, along with foams and soft silicone, in Mölnlycke’s wound care products, the acquisition supports the latters growth ambitions and adds critical research and development capabilities to an increasingly differentiated portfolio.
It is hoped that the acquisition will improve Mölnlycke’s security of supply of the airlaid material that is essential in the production of its advanced wound care dressings, and will also help grow the wound care business by accelerating innovation and product development in existing and future products.
The parties have agreed to keep the purchase price confidential.
“We are very happy to welcome M&J into the Mölnlycke family," said Richard Twomey, CEO of Mölnlycke. "Our relationship dates back several decades, and thus is a natural unification of forces. This is fully in line with where we want to be as a company, and M&J’s strong R&D capabilities combined with Mölnlycke’s end-product knowledge will help us further improve our competitive position within the advanced wound care industry.”
Jens Ole Brøchner, CEO of M&J, added: “I welcome Mölnlycke, a long-time customer and partner of M&J, to care for our heritage. The operational and strategic synergies will allow for high-quality products brought to market even faster, and I look forward to continued success under the new ownership structure.”