Three-year-old MedPlast (Tempe, AZ) is looking for acquisition candidates in healthcare contract manufacturing in Latin America and Asia, and hopes to expand its global footprint within two years.
"If you want to be successful in a region of the world, you need to have a permanent presence there," Harold Faig, CEO of MedPlast told PlasticsToday.com in an interview. "And I'm not a fan of building from scratch. My focus is to go where the customers are and generally that means you need to buy facilities and optimize them to what is needed."
MedPlast operates five plants in the United States that were part of its acquisition of the engineered rubber and plastics group of Applied Tech Products Corp. and K&W Medical Specialties in 2008 just as a major recession was taking hold. Faig ordered a restructuring to improve costs as well as investment in new capabilities required for a medical market focus.