Northern Ireland headquartered Eakin Healthcare Group has announced it is expanding into a new therapeutic area with the acquisition of Coleraine based Armstrong Medical, which specialises in respiratory care products. The deal represents a diversification for the Group which to date has specialised in ostomy and wound care products.
The combined resources of the two indigenous NI healthcare manufacturing businesses will now help the Group to grow its domestic and international presence. The acquisition will be supported by an ambitious investment plan to enable further development of innovative medical products in Northern Ireland to meet the needs of patients worldwide.
Speaking about the acquisition, Jeremy Eakin, Managing Director of Eakin Healthcare Group said;
“This is a hugely important strategic acquisition of a well-established and successful Northern Ireland family business which has already made its mark on the global stage. We believe that with the combined resources and expertise of both businesses alongside our ambitious investment plans we can take Armstrong Medical to the next level and help it take advantage of new and exciting opportunities in the human healthcare market. Both family-owned businesses share a common culture and philosophy, and we see many synergies which we believe will underpin the continued success of both brands. We welcome the entire Armstrong Medical team into the wider Eakin Healthcare Group and are delighted that some of the Armstrong family have agreed to stay on in various capacities to help us to continue to grow this business.
“We believe that Northern Ireland has already acquired a global reputation for excellence in healthcare innovation and manufacturing and that this deal will only serve to further reinforce that reputation around the world.”
Welcoming the deal, John Armstrong, Chairman, Armstrong Medical said;
“We are very pleased to have completed the sale of our business to the very successful Eakin Healthcare Group and believe it will deliver an important next chapter for Armstrong Medical.
The Armstrong family remain passionate about the business, its workforce and its position in the local community and are keen to see its continued success in the years ahead.
“We believe that this is best achieved with the support and investment from the new owners where they now have the opportunity to realise exciting growth opportunities within the sector.
“The fact that we are selling to another successful family-owned Northern Ireland business with a shared ethos and approach gives us great confidence. I and other family members will be pleased to continue to support the ongoing efforts to grow the business under the Eakin Healthcare Group banner.”
The acquisition takes immediate effect and there will be no change to company names or brands. All employees of Armstrong Medical will automatically transfer to the Eakin Healthcare Group.