Carlisle Companies has signed an agreement to acquire US-based Providien, a provider of comprehensive manufacturing solutions to the medical device original equipment manufacturers (OEMs).

The company provides medical device OEMs with services such as new product development, supply chain management, product lifecycle management, thermoforming, medical device contract manufacturing and assembly, machining and metals and medical injection moulding.

Carlisle said that the acquisition of Providien is in line with its Vision 2025 strategy to build scale with synergistic acquisitions to drive to $15 of earnings per share.

Providien will be included in Carlisle Interconnect Technologies (CIT) operating segment.

Providien is a major thermoformer of aesthetic, complex medical device enclosures and products. It has expertise in the manufacturing of large and multi-part enclosures for the medical device industry.

Providien is a provider of manufacturing solutions to the medical device original equipment manufacturers

The company offers design, development, and manufacturing solutions for the production of Class II and Class III finished medical devices.

Providien is specialised in electromechanical assemblies, NPI management, and precision miniature bearings. In addition, the company is a major provider of medical injection moulding for the healthcare industry.

Based in San Diego, California, Providien manages additional facilities in California and Tijuana, Mexico. It employs around 1,000 people.

Subject to customary closing conditions, the deal is expected to be completed in the fourth quarter of this year.

Carlisle Companies president and CEO Chris Koch said: “The acquisition of Providien fits our Medical Technologies platform expansion and vertical integration strategy, driven by aging populations and increased preference for minimally invasive surgical procedures.

“Providien adds new products for medical markets, including: Robotics, Drug Delivery, Oncology, and Kyphoplasty, currently not served by CIT’s product portfolio.

“Providien also establishes a Medical new product development and manufacturing footprint in the U.S. for CIT.”