Nypro Inc. Has Entered into a Definitive Agreement to Acquire 100% of the Shares of Schlosser Medizintechnik GmbH of Knittlingen, Germany


CLINTON, Massachusetts; October 11, 2010 - Nypro Inc. has entered into a definitive agreement to acquire 100% of the shares of Schlosser Medizintechnik GmbH of Knittlingen, Germany. The agreement was announced jointly today by Ted Lapres, President and CEO of Nypro, here and Peter Pronath, President, General Manager and major shareholder of Schlosser.

Founded in 1969, Schlosser is a well-known European supplier of medical plastics parts to the diagnostic device markets throughout Germany, France, Switzerland and the surrounding area. It employs about 150 people in a 15,700 sq. m. factory, including Class 7 and Class 8 clean rooms. According to Mr. Lapres, "Schlosser's customers include many of the best-known medical device companies in Europe." "We look forward to supplying these customers with the world class diagnostic manufacturing technology for which Schlosser is a leader," he added.

Ray Grupinski, Group President , Nypro Healthcare, said Schlosser will provide Nypro with a strong Central European technical platform to grow target accounts globally, "We will add Schlosser's technical strength in Germany to our recently expanded healthcare facilities in Ireland and France. Large healthcare companies want to consolidate their supply base and are looking for companies like Nypro with global capabilities and reach which have technical expertise such as we will have with the Schlosser operations. This will allow the large customers to expand or move their product rapidly and globally," Mr Grupinski continued. "This acquisition is one component of our forward-looking strategy and augments other elements including continued major expansion of a number of our current facilities, global capability standardization, continued development of a number of Healthcare facilities in Asia and introducing several new technologies into Nypro." "These are very exciting times for Nypro Healthcare" he concluded.

James O'Gorman, Nypro Healthcare's Vice President, Operations for Europe and Asia, explained that Nypro and Schlosser have worked together for over a year identifying synergies that are both market and technology based. "The cultural fit we see is exceptionally strong, this emanates from both companies having an entrepreneurial heritage," he added. "Our team is extremely keen to work with the Schlosser management on the integration of their strong technical capabilities into the rest of Nypro's European and Asia operations. Both management teams have developed very strong working relationships over the last year and are currently working on several joint projects."

Three weeks ago, Nypro Healthcare hosted an opening event to celebrate a major expansion of their French Healthcare facility. Last week, the state of North Carolina (USA) announced a project by Nypro Healthcare at Asheville NC to expand in Asheville to produce insulin injection devices. The Schlosser acquisition is further demonstration of the major drive by Nypro to enhance a global healthcare offering.

With $1.25 billion annual revenues, Nypro employs 15,000 people at 44 locations in 15 countries. Founded in 1955, Nypro has been a leader in healthcare molding and assembly ever since, currently focused on diagnostics, drug delivery and medical and surgical sub-markets. Among its innovations in healthcare molding, Nypro has been a world leader with clean rooms, robotics and other specialized automation, up-front design work, complex drug delivery devices that require motors and needles, and reagent filling.

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Al Cotton
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