News

2017 2016 2015 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004-2001

Paragon Medical Acquires Cluster of Companies

December 20, 2005

Paragon Medical - Acquisitions - Mark Machine, Osteomac, Ortho-Craft, Ortho-Precision
(Pierceton, IN) - Paragon Medical announced today that is has acquired a cluster of four companies located in New Jersey and Florida. Paragon Medical, Inc., a supplier of surgical instruments, implantable components and delivery systems has acquired Mark Machine, Inc., and Ortho-Craft, Inc., manufacturers of precision orthopaedic instruments and medical devices headquartered in Fairfield, New Jersey and their affiliate companies Osteomac and Ortho-Precision, respectively. For Paragon Medical, this move marks yet another milestone in the evolution of the company and supports the firm's commitment to being the premier manufacturer for the global surgical marketplace.

The acquisitions were completed on December 16, 2005. Mark Machine, Ortho-Craft and Ortho-Precision are located in Fairfield, NJ and Osteomac is located in Pompano Beach, Florida. Structurally, Mark Machine and Osteomac will maintain their corporate identities. Ortho-Craft and Ortho-Precision will fold into Mark Machine.

Through the transaction, Paragon has acquired and will maintain the approximate 60,000 square foot facilities. With senior management remaining and all 136 employees retaining their positions and becoming Paragon employees, customers of Mark Machine, Ortho-Craft and Paragon Medical will see no interruptions to current or future contracts placed with the consolidated entities.

Possessing a combined 50 plus years of experience and a diverse set of manufacturing capabilities, Mark Machine, Ortho-Craft and their affiliates have developed an expertise in manufacturing close tolerance, complex orthopaedic instruments and medical devices. This additional expertise compliments core competencies already present at Paragon Medical. Clients of the combined companies will benefit from greater market segment depth and geographic locations that enhance customer service. The scope of Paragon's worldwide industry presence will allow Mark and Ortho-Craft to continue their growth in serving an expanding global customer base.

Tobias Buck, Chairman and CEO of Paragon Medical, commented, "These companies have an outstanding reputation within the industry as experts in the field of instruments, and as companies dedicated to customer service. The leadership teams, experience, employees and facilities will all contribute significantly to Paragon's vision of being the preferred manufacturer of products and total instrument management solutions for the worldwide surgical marketplace."

More information about these companies can be found at: www.markmachine.com and www.ortho-craft.com.

About Paragon Medical, Inc.

Paragon Medical is a single source, turnkey supplier of surgical instruments, implantable components, custom and standard instrument delivery systems to the worldwide medical device marketplace, with a concentration in the hip, knee, spine, trauma and sports medicine disciplines. Incorporated in 1991, Paragon Medical's utilization of advanced manufacturing technology, UG ® certified engineers, rapid prototyping, virtual information transfer and vertical integration allows them to adapt a wide range of services to support the strategic needs its customers, with innovative solutions. Offices and production facilities are located in Pierceton, Indiana; Indianapolis, Indiana; Smithfield, Utah; Lausanne, Switzerland and Changzhou, China. More information about the company may be found at www.paragonmedical.com.



Paragon Medical Recognizes Employees For Years Of Service

August 17, 2005

Brett Clossin, Scott Smith, Pam Walls, Michelle Walters - Packaging, Lorrie Myers, Daniel Hedke, Justin Lancaster, James Berner, John Reed
Pierceton - Paragon Medical, Inc., incorporated in 1991, recently recognized several employees who reached service milestones at its annual company picnic, held this year at Indiana Beach, Monticello. Honored at this year's picnic were:

For 10 years of service:
  • Brett Clossin - Pattern Maker
  • Scott Smith - CNC Cell Leader
  • Pam Walls - CNC Operator I
For 5 years of service:
  • Michelle Walters - Packaging
  • Lorrie Myers - CNC Operator I
  • Daniel Hedke - Tool&Die Maker
  • Justin Lancaster - CNC Operator I
  • James Berner - CNC Mach III
  • John Reed - CNC Tech Cell Leader



Paragon Medical Closes $25 Million Equity Transaction

August 15, 2005

Seidler Equity Partners, AIG Altaris Health Partners
Pierceton, Ind. - Paragon Medical, Inc. announced this week that it has closed an equity transaction with Seidler Equity Partners and AIG Altaris Health Partners for a combined $25 million. The funds will supply growth capital for Paragon in support of both organic and inorganic growth initiatives.

Seidler Equity Partners is a niche private equity investment firm that specializes in creating long-term partnerships with visionary executives to build businesses. Since 1990, Seidler has partnered with over 25 business owners and management teams to support growth initiatives. "Paragon is natural fit for our investment strategy of investing in industry leading companies that are led by world-class management teams," commented Bob Seidler, a partner at Seidler.

AIG Altaris Health Partners invests exclusively in the healthcare industry. Altaris' investment strategy is to provide management teams with financial backing and industry expertise to accelerate their growth. "We are pleased about the opportunity to invest in Paragon which we see as a pre-eminent contract manufacturing company." Mike Kluger, Managing Director for Altaris Health Partners. "We believe that Paragon is positioned to experience significant growth in their industry."

"We are pleased to have Seidler and Altaris as part of the Paragon team", commented Tobias Buck, Chairman and CEO of Paragon Medical. "These firms are both highly regarded and will enhance our organization's depth as we embrace the collective expectations of our client community."

Barnes&Thornburg LLP represented Paragon in the transactions. Stephen Dutton, a partner with Barnes&Thornburg, commented, "We are proud to have represented Paragon in one of the largest private equity transactions in Indiana this year. I have had the opportunity to work with Paragon for most of its corporate life and was excited to assist it with this important transaction."

About Paragon Medical, Inc.

Paragon Medical is a single source, turnkey supplier of surgical instruments, implantable components, custom and standard instrument delivery systems to the worldwide medical device marketplace, with a concentration in the hip, knee, spine, trauma and sports medicine disciplines. Incorporated in 1991, Paragon Medical's utilization of advanced manufacturing technology, UG ® certified engineers, rapid prototyping, virtual information transfer and vertical integration allows them to adapt a wide range of services to support the strategic needs of the customer, with innovative solutions. Offices and production facilities are located in Pierceton, Indiana; Indianapolis, Indiana; Smithfield, Utah; Lausanne, Switzerland and Changzhou, China.



Paragon Medical Breaks Ground for Expansion, Extends Thanks to Employees


April 12, 2005

Case&Tray Facility Groundbreaking
Pierceton, Ind. - Paragon Medical, Inc., held a groundbreaking ceremony on Tuesday, April 12th, at its Pierceton headquarters for a new 50,000 square foot manufacturing facility. The new building is a component of the $50 million, multi-year campus and overall corporate expansion plans announced last July by the company and comes approximately 9 months ahead of schedule. Chairman and Chief Executive Officer, Tobias Buck states "Industry growth and customer demands require us to start now. The global demographic is forcing significant growth in all market segments that we participate in."

All operations for Surgical Instrument Delivery Systems will transfer from the existing 110,000 square feet to the new structure. Space vacated due to the transfer will be maximized to support the significant growth in the instruments and Implantable Components division. The new case and tray facility will be configured for maximum customer responsiveness and value added activities through the utilization of lean manufacturing and customer focused teams. President and COO, Gary McGill added, "We understand that Paragon is in a unique position to differentiate ourselves from our competition. This state of the art facility is just the first step in creating manufacturing capacity wherever it may be required to support our customers, worldwide."

Paragon added over 100 new jobs last year and this new facility brings with it additional employment opportunities for the community. "As technology evolves, we continue to have a high demand for talented employees, particularly skilled machinists," explains McGill. "However, we anticipate the creation of a variety of opportunities for people of all skill levels."

Occupancy of the case and tray facility is currently scheduled for October of this year. As part of this first phase, the entire site will be prepared for future development, which will include a corporate headquarters office with added design and development support capabilities. Construction on the headquarters building is expected to begin shortly after the completion of this first phase.

As part of the celebration, Paragon extended its appreciation to the employees for their continued hard work and dedication to the company and for a successful 2004. Each employee received a Paragon camp chair and T-Shirt that read, "It wasn't the tools, it was the teamwork", representing each person's contribution to the success of the company.

About Paragon Medical, Inc.

Paragon Medical is a single source, turnkey supplier of surgical instruments, implantable components, custom and standard instrument delivery systems to the worldwide medical device marketplace, with a concentration in the hip, knee, spine, trauma and sports medicine disciplines. Incorporated in 1991, Paragon Medical's utilization of advanced manufacturing technology, UG ® certified engineers, rapid prototyping, virtual information transfer and vertical integration allows them to adapt a wide range of services to support the strategic needs of the customer, with innovative solutions. Offices and production facilities are located in Pierceton, Indiana; Indianapolis, Indiana; Smithfield, Utah; Lausanne, Switzerland and Changzhou, China.



McGill Named President, Paragon Medical


April 1, 2005

Gary McGill - President and COO - Pargon Medical, Inc.
Paragon Medical, Inc., Pierceton, IN, announced today the promotion of Gary McGill to the office of President and Chief Operating Officer. Mr. McGill most recently served as the Executive Vice President and COO for Paragon. Since joining the company in 1997 as Vice President, he has been responsible for all Manufacturing Operations, including Quality, and has served as a member of Paragon's Board of Directors.

McGill's 25 years of experience in manufacturing management have been highlighted by successful stints with Fortune 100 companies such as Rockwell International and ITT Industries. He holds a degree in Industrial Engineering. The move promotes a greater focus on the company's strategic initiatives. Chairman and Chief Executive Officer, Tobias Buck states "Gary's experience, leadership and participation in the overall management of the company has prepared him for this critical role. This promotion is representative of our continuing commitment to advance Paragon Medical as the leading Tier I alternative for Orthopedic sourcing decisions, creating a business that is unquestionably the best in the industry."

About Paragon Medical, Inc.

Paragon Medical is a single source, turnkey supplier of surgical instruments, implantable components, custom and standard instrument delivery systems to medical device original equipment manufacturers in the hip, knee, spine, trauma and sports medicine disciplines. Incorporated in 1991, Paragon Medical's utilization of advanced manufacturing technology, UG ® certified engineers, rapid prototyping, virtual information transfer and vertical integration allows them to adapt wide range of services to support strategic needs with innovative solutions. Offices and production facilities are located in Pierceton, Indiana; Indianapolis, Indiana; Smithfield, Utah; Lausanne, Switzerland and Changzhou, China.



Paragon Medical Announces Hiring of European Engineering Staff


January 11, 2005

Paragon Medical Europe Design Engineers - Azlan Hadi and Georges Krafstik
Paragon Medical Europe, a division of Paragon Medical, Inc., Pierceton, IN, is pleased to announce the addition of Design Engineer's Azlan Hadi and Georges Kraftsik to its growing European division. This news comes on the heels of the company's announcement to relocate its European office to Lausanne, Switzerland. Cory Colman, Vice President of Business Development states, "These staff additions align with the company's commitment to be a global provider to the medical device industry. We believe that it is only through the investment in solid structure and utilization of technology that we can achieve our ultimate goal of customer commitment and growth."

Azlan Hadi joins Paragon with a Bachelor's degree in Mechanical Engineering from Columbia University in New York. Before joining Paragon Medical Europe, Mr. Hadi's background is highlighted by a variety of positions including design experience for a Research and Development automotive firm in Malaysia. Mr. Hadi is fluent in French, Malay and English.

Georges Kraftsik brings with him a Master of Science EPFL in Mechanical Engineering. Mr. Kraftsik's experience ranges from software consultant to Research Engineer Assistant. Mr. Kraftsik's native speaking languages are French and Hungarian. He is also fluent in English with a working knowledge of German and Spanish.

In preparation for their work in Switzerland, Mr. Hadi and Mr. Kraftsik will begin extensive training this month at Paragon's Headquarters in Pierceton. They will be responsible for concept and design generation of Delivery Systems used in surgical procedures. Additional areas of focus include project management, ISO, FDA and local regulation compliance, as well as staying informed of current market trends and requirements.

About Paragon Medical, Inc.

Paragon Medical is a single source, turnkey supplier of surgical instruments, implantable components, custom and standard instrument delivery systems to medical device original equipment manufacturers in the hip, knee, spine, trauma and sports medicine disciplines. Incorporated in 1991, Paragon Medical's utilization of advanced manufacturing technology, UG ® certified engineers, rapid prototyping, virtual information transfer and vertical integration allows them to adapt wide range of services to support strategic needs with innovative solutions. Offices and production facilities are located in Pierceton, Indiana; Indianapolis, Indiana; Smithfield, Utah; Lausanne, Switzerland and Changzhou, China.
Language: English ☑ | Chinese ☐
USA: 574.594.2140 | 800.225.6975 | email
INTERNATIONAL: +41 21 320 37 85 | email
CHINA: +86(0)519 8989 0066 | email
Conference Portal
 
Language: English ☑ | Chinese ☐ | USA: 574.594.2140 | 800.225.6975 | email | INTERNATIONAL: +41 21 320 37 85 | email | CHINA: +86(0)519 8989 0066 | email | Conference Portal