SunTech Medical, a Halma Company, Completes Acquisition of Meditech
MORRISVILLE, N.C., September 3, 2021 (Newswire.com) - SunTech Medical, Inc. ("SunTech") a subsidiary of Halma plc (LSE: HLMA), announced today that Halma has completed the acquisition of all shares of Meditech Kft., a manufacturer of ambulatory blood pressure monitors (ABPM) and ECG Holter devices based in Budapest, Hungary. Through the acquisition, Meditech becomes a business unit of SunTech, allowing SunTech to leverage the two companies' expert knowledge of blood pressure (BP) to bring better BP solutions to customers.
Meditech recently celebrated its 30th anniversary. In 2020, Meditech launched its novel ABPM-06, which has the new SleepWell® function and built-in voice recording. In early 2021, Meditech received USA FDA 510(K) clearance for the product, and sales have commenced worldwide. SunTech already has a strong position in the ABPM market with the Oscar 2 ABPM. Together, SunTech and Meditech will use a combined expertise in ABPM to bring new innovations to the ABPM market and improve the diagnosis and management of hypertension worldwide.
SunTech and Meditech have a lengthy shared history. Over 20 years ago, SunTech launched its first oscillometric ABPM product, the Oscar, which was manufactured by Meditech. Since then, both companies have continued to innovate and bring new solutions to market. The leadership of both SunTech and Meditech look forward to continued growth and innovation stemming from this new partnership.
Rob Sweitzer, President of SunTech, commented "We are thrilled to welcome Meditech employees and customers to the SunTech and Halma families. As we got to know the team at Meditech, we were highly impressed with their talent, and we believe they will add significant commercial, R&D, operational and regulatory capabilities to the combined group. It's obvious that Meditech's customers are intensely loyal because of the high level of service they have received over the years, along with the excellent performance of Meditech's solid technology and products. Meditech has multiple complimentary channel partners plus a deep knowledge of the EMEA market and EU MDR requirements, which can help SunTech. SunTech, backed by Halma, can accelerate Meditech's growth with expansion of global market access and investment in R&D. Beyond our shared product DNA with the original Oscar, I believe we share a commitment to providing clinicians and patients with high performance, clinical grade blood pressure devices. This is going to be a great partnership!"
Dr. István Szőllősi, Managing Director at Meditech, added "We have known SunTech as a team of brilliant professionals ever since we joined the club of ABPM manufacturers in 1990. Our mutually advantageous relationship goes back over twenty years, and it is now brought to the closest level of integration. It is a pleasure for us to join forces with SunTech under the Halma umbrella, and bring all the advantages of this new setup to all our partners and customers. We received the offer for acquisition practically as a gift for Meditech's 30th anniversary. We saw it as an honor and the acknowledgement of all our achievements, so we accepted it with pleasure and pride. This is going to be the perfect way to drive Meditech to continued success for the next 30 years and more!"
About SunTech Medical, Inc.
Headquartered in the United States, in North Carolina's Research Triangle, SunTech Medical, a Halma company, is globally focused on the continual advancement of blood pressure monitoring products and technologies for the benefit of our customers, patients, employees, and shareholders.
Our passion is creating advances in clinical-grade blood pressure technology and providing innovative products that improve the quality of patient care. Since the early 1980s, our sole focus, every day, has been on developing and improving leading-edge technology to obtain the most accurate and reliable blood pressure measurements.
It's Quality. It's our Legacy. It's The Difference in Clinical Grade.®
About Meditech
Meditech, established in 1990, has 30+ years of experience in the field of medical devices and software solutions. We are committed to improving cardiovascular health by developing and manufacturing 24-hour BP and ECG Holter monitors and bringing them to the market worldwide. As an EU-based manufacturer, our procedures meet the highest standards, so that we can provide our partners with the best quality.
Hearts deserve the best Holters.
Media Contact
Marissa Bellard
Source: SunTech Medical, Inc.
