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On this significant development, Doug Wilkins, Vice President – Operations at Tacpro spoke, "This partnership will enable Tacpro to meet the high quality expectations of the medical device market while continuing on its path to be a worldwide leader in Medical Devices." Everyway that one looks at it, this acquisition is an ideal fit and a perfect balance with the current businesses because of high asset turnover, low capital intensity and B2B nature.

This is a recession proof industry with a high growth rate.

Medical Devices is not developed in Asia, which is a thickly populated market and a virtual Greenfield.

Figuratively, the global medical devices market size is USD 172.6 billion.

Of this, the contract manufacturing comprise USD 16.7 billion.

The catheter market alone is about USD 5.7 billion of which the USA has USD 2.3 billion share.

The industry growth is estimated at 7%-10%.

Jeff Kraus, Vice President - Engineering, Tacpro said,“ This is an awesome opportunity to be able to provide our services to a larger and wider market.” The present team at the Company, headed by Nitin Matani, the Chief Executive Officer, will continue to manage the operations of the Company, under the guidance of Essel Propack.

Sourced From : Essel Propack - ...

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