Benzinga | Dec 23, 2021 09:01AM EST

UFP Technologies Reports Purchase Of DAS Medical, No Terms Disclosed

UFP Technologies, Inc. (NASDAQ:UFPT), an innovative designer and custom manufacturer of components, subassemblies, products, and packaging primarily for the medical market, today announced the acquisition of DAS Medical, Inc. Founded in 2010 and headquartered in Atlanta, Georgia, with manufacturing in the Dominican Republic, DAS is a medical device contract manufacturer specializing in the design, development and production of single-use surgical equipment covers, robotic draping systems and fluid control pouches.

"Adding DAS Medical to the UFP MedTech portfolio is another important step in our growth strategy," said R. Jeffrey Bailly, chairman, CEO, and president of UFP Technologies. "DAS's expertise in thin film converting and near-shore manufacturing is a perfect complement to our best-in-class RF welding technologies. Along with our new facility in Tijuana, Mexico, this adds another low-cost manufacturing option for our customers."

"We are also excited to be partnering with the DAS management team," Bailly said. "We are strategically and culturally aligned, with a laser focus on creating value for customers in similar growth segments. We currently share key strategic customers, and can now create more value by offering a full suite of services for single-use, flexible material-based medical devices."

According to Daniel Lee, DAS's president and CEO, "Joining forces with UFP's MedTech team is a fantastic strategic fit. We both have expertise in creating differentiated solutions leveraging expertise in medical film converting for critical single-use applications. With access to UFP's sales engine, development engineers and growing technology portfolio, we will be able to accelerate the growth of our proven low-cost manufacturing platform in the Dominican Republic."