SINGAPORE - Accuron Technologies Ltd, a technology and engineering holding company wholly-owned by Temasek Holdings, has acquired a majority stake in Malaysia-based Aurum Healthcare Sdn Bhd.
This is the sixth medical technology-related deal for Accuron Medtech Group, a division within Accuron Technologies, in the last two and a half years.
Announcing the latest deal on Monday (July 4), Accuron Technologies said its medtech division was set up to take advantage of opportunities in the global medtech market, which is projected to reach US$537 billion (S$720 billion) by 2020.
The Asia-Pacific is the fastest growing region and is forecast to become the second-largest market for medtech at US$133 billion by 2020, said the company.
Said Mr Abel Ang, group chief executive officer of Accuron Medtech: "Our operating businesses provide therapeutic, diagnostic and medical device solutions to customers internationally through our direct presence in the US, Europe, China, Japan and Singapore.
"By adding a commercial and manufacturing presence in Malaysia through Aurum, we believe this deal will be beneficial for our group operating companies.
Accuron Medtech said it will place Aurum under Advanced Materials Technologies (AMT), its Singapore-based contract manufacturing partner. The acquisition will increase AMT's manufacturing footprint from its current 120,000 square feet of facilities located in Tuas in Singapore and Dongguan City in China to include Aurum's 20,000 sq ft facility at the Setia Business Park in Johor Bahru, Malaysia.
Aurum's facility can provide sterilisation services for medical devices and instruments, as well as clean room manufacturing and assembly services.
AMT specialises in metal injection moulding and 3D metal printing for high precision and complex metal parts used in the medical device sector such as the metal components found in endoscopes and robotic surgery instruments.
The addition of Aurum's capabilities means that AMT will expand its OEM expertise to include manufacturing of plastic medical consumables, such as those used in heart bypass, catheterisation or angiography procedures.