Paramit

Tecan Group has entered into a definitive agreement to acquire Paramit Corporation, a US-based OEM developer and manufacturer of medical devices and life sciences instruments, for a total consideration of USD 1.0 billion (CHF 920 million). The acquisition will expand Tecan's capabilities in medical devices and strengthen its US and Asia presence.

Paramit Corporation has acquired Emphysys, Inc., a technology development firm specializing in complex systems for medical device, life sciences, and industrial equipment industries. Emphysys is based near Boston, Massachusetts.

Paramit Corporation agreed to acquire Austrian-based S.I.E. SOLUTIONS, a designer and manufacturer of embedded technology solutions for healthcare and security, expanding Paramit's operations to Europe.

Paramit officially opened a new 162,000 square foot medical device and life sciences manufacturing facility in Penang, Malaysia. The site will serve customers in medical devices and industrial products.