Cosmed Group Acquiring Ethylene Oxide Contract Sterilization Operation from NAETO Sterilization form10.18.17
FRANKLIN, NJ and JAMESTOWN, RI: On Tuesday, October 17, 2017, Cosmed Group, Inc. entered into a definitive agreement with NAETO Sterilization, formerly North American Sterilization & Packaging (NASP), to acquire their contract ethylene oxide sterilization operation in Franklin, NJ.
“We are pleased to announce the expansion of our medical device sterilization division into a second facility as we continue to grow our presence in the marketplace,” stated David Howe, Chief Operating Officer of Cosmed Group.
“We are pleased to be selling NASP/NAETO to Cosmed Group,” said PJ Wiebel, CEO of NASP. “Cosmed is an innovative company with intriguing plans to grow their company and brand.”
The parties expect to complete the transaction before the year end. Cellmedix, a company owned by the Wiebels, will remain in the medical device industry, and the two companies are committed to collaborating as opportunities arise.
“Adding this facility to our network demonstrates our commitment to returning as a significant market presence. Prior to divesting the healthcare division in 2004, Cosmed was among the largest contract sterilization companies in the U.S. This acquisition brings us into a new geographical area, allows for a broader customer base, responds to the outcry for more sterilization vendors, and provides a backup location for our Erie, PA facility.” said Howe.
Wiebel added, “We are excited for the new opportunities our employees will have with Cosmed Group, and the opportunity to continue to work with Cosmed into the future with Cellmedix.”