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Phillips-Medisize Corporation bought by SF private equity firm

HUDSON, WI (WTAQ) - A company in Hudson that provides manufacturing services for medical devices is about to be owned by a private equity firm from San Francisco.  

The deal allows the Phillips-Medisize Corporation to keep its management team in place, along with its current headquarters in far western Wisconsin.  

A purchase price was not disclosed. The Reuters News Service says the deal is close to $800 million -- and it's expected to close in the "coming months" pending regulatory approvals.  

Phillips CEO Matt Jennings said Golden Gate's business relationships, financial record, and track record will help solidify his company's leading position in the market.  

Phillips-Medisize sells products to a range of customers involved in blue chip medical devices, pharmaceuticals, and other commercial firms. It has 3,100 employees in 19 locations in America, Mexico, China, and Europe -- including a design center in Wisconsin.  

Golden Gate manages about $12 billion of capital.

(Story courtesy of Wheeler News Service)