Out-of-state buyers snap up two Maine medical technology businesses
Westbrook biotech supplier Artel Inc. was acquired by Massachusetts-based Advanced Instruments, while Amplify Additive of Scarborough has been bought by a Michigan firm, Arch Medical Solutions Corp.
Terms and closing dates for the separate deals were not disclosed.
Artel, founded in 1982, provides low-volume liquid-delivery measurement equipment and quality assurance for the life science industry. Advanced Instruments manufactures analytical instruments and services for the clinical, biopharmaceutical and food and beverage sectors.
Together, the two companies said they will help laboratories improve their processes, increase productivity, enhance product quality, and address compliance challenges.
"The addition of Artel aligns with our core strategy to develop and commercialize leading technologies that deliver significant customer value across the clinical, biopharma, and food and beverage markets," said Byron Selman, president and CEO of Advanced Instruments, headquartered in Norwood, Mass.
"With the strong brand names of Advanced Instruments and Artel, along with our core technologies and services, we will deliver an even more powerful portfolio in support of the sectors we serve."
Kirby Pilcher, president of Artel, said, "We are excited about joining the Advanced Instruments team. Our companies share many similar values and goals … in addition to strengthening our customer relationships, this partnership will provide new and exciting opportunities for our employees."
Meanwhile, Scarborough-based Amplify Additive, which develops and manufactures implants that use 3D metal printing, particularly in titanium, was acquired by Arch Medical Solutions of Michigan. Amplify Additive will now be branded as Arch Additive-Portland.
Arch said the acquisition will expand the reach of Arch into additive manufacturing for orthopedics and position the supplier for growth within the medical device contract manufacturing market.
Brian McLaughlin, CEO and founder of Amplify Additive, sees the move as the start of a new chapter for the company he founded in 2018.
“We are taking our operations to a new level,” McLaughlin said. “Partnering with Arch Medical Solutions gives us access to a wider range of resources and capital to support our team and our commitment to manufacturing life-changing devices and implants for the orthopedic market.
"Arch shares our vision to transform the future of the healthcare industry and amplify the benefits patients receive — that’s of great importance to us.”
Eli Crotzer, president and CEO of Arch, said the acquisition is another piece of the company’s strategic growth plan.
“The way the Amplify team combines clinical knowledge with engineering design and additive manufacturing is quite unique. This acquisition diversifies our solutions for orthopedic customers and expands the already impressive reach of Arch Medical Solutions,” Crotzer said.
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