UFP Technologies Acquires Welch Fluorocarbon
July 16 2024 - 4:00PM
UFP Technologies, Inc. (Nasdaq: UFPT), a designer and custom
manufacturer of comprehensive solutions for medical devices,
sterile packaging, and other highly engineered custom products,
today announced the acquisition of Welch Fluorocarbon Inc. Founded
in 1985 and headquartered in Dover, New Hampshire, Welch
Fluorocarbon develops and manufactures thermoformed, and heat
sealed implantable medical device components utilizing thin,
high-performance films.
“Welch Fluorocarbon will bring significant thin
film thermoforming capabilities to our expanding MedTech portfolio
of technologies and materials,” said R. Jeffrey Bailly, chairman
and CEO of UFP Technologies. “Their expertise in developing and
manufacturing components for implantable medical devices is an
excellent complement to our existing thin film platform.”
“UFP and Welch Fluorocarbon share many clients
and together, our expanded product development and manufacturing
capabilities will allow us to serve our clients in a more
comprehensive way,” continued Bailly. “Additionally, we are gaining
a talented leadership team and overall, the Welch Fluorocarbon team
is a very strong cultural fit.”
“We are thrilled to have selected UFP as our new
home. Having a partner that understands how to support our rapidly
expanding business in our niche is critical. UFP has demonstrated
that they understand our needs and have the capabilities,
experience, and resources to help propel Welch to its fullest
potential,” said Kevin Wiley, Owner and CEO.
About UFP Technologies,
Inc.
UFP Technologies is a designer and custom
manufacturer of comprehensive solutions for medical devices,
sterile packaging, and other highly engineered custom products. UFP
is an important link in the medical device supply chain and a
valued outsource partner to most of the top medical device
manufacturers in the world. The Company’s single-use and
single-patient devices and components are used in a wide range of
medical devices and packaging for minimally invasive surgery,
infection prevention, wound care, wearables, orthopedic soft goods,
and orthopedic implants.
Forward Looking Statements
This press release contains statements relating
to expected financial performance and/or future business prospects,
events, and plans that are forward-looking statements. Such
statements include but are not limited to: the anticipated effects
on us of acquiring Welch Fluorocarbon; anticipated trends in the
different markets in which we compete and expectations regarding
customer demand; expectations regarding our business opportunities;
and statements about our growth potential and strategies for
growth. Investors are cautioned that such forward-looking
statements involve risks and uncertainties that could adversely
affect our business and prospects, and otherwise cause actual
results to differ materially from those anticipated by such
forward-looking statements, including the risks that the Company
will not realize the anticipated benefits of the acquisition of
Welch Fluorocarbon due to the inability of the Company to execute
its business strategy, Welch Fluorocarbon integration strategy or
otherwise as well as other risks and uncertainties that are
detailed in the documents we file with the SEC. Accordingly, actual
results may differ materially. Readers are referred to the
documents we file with the SEC, specifically the last report on
Form 10-K. The forward-looking statements contained herein speak
only of our expectations as of the date of this press release. We
expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any such statement to reflect
any change in our expectations or any change in events, conditions,
or circumstances on which any such statement is based.
Contact: Ron Lataille978-234-0926,
rlataille@ufpt.com
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