Koch Industries, run by controversial conservative billionaires Charles and David Koch, have acquired Irish medical devicemaker Protek Medical through its subsidiary Molex, the company recently announced.
“This strategic acquisition broadens the scope of our integrated medical solution offerings and significantly strengthens our medical device design, manufacturing and test capabilities,” Tim Ruff, senior vice president of business development and corporate strategy at Molex, said in a statement.
Details of the deal were not disclosed. According to the company, Protek will continue to operate as a subsidiary of Molex, which runs 50 manufacturing sites in 17 countries.
“The acquisition presents new opportunities to achieve faster growth by expanding into new regions and healthcare market segments,” Protek founder and CEO Frank Boyle in a statement. “Our customers will benefit from the unique capabilities, electromechanical technologies and global supply chain that Molex offers. We will now have the ability to easily scale to serve high mix, low and high volume production requirements to SME and large medical device OEM customers worldwide.”
Started in 1995, Protek is an outsourcing firm that designs and manufactures devices and components for the medical device and pharmaceutical industries.
Some of its medical applications the company serves include stents, tracheostomy components and balloons, intrauterine devices, heart valves, nebulizers and implantable orthopaedics.
David and Charles Koch have been known for years as generous donors to conservative causes and their backing of right-wing candidates.