Argon Medical Pursues Vertical Integration with Mold Maker Acquisition
A manufacturer of disposable medical devices for interventional procedures, Argon Medical Devices Inc. has acquired Matrex Mold and Tool Inc. Argon has had a business relationship with the custom mold manufacturer for plastic injection molding for more than 25 years.
The acquisition is an extension of Argon’s vertical integration strategy that was “vital to growth throughout the pandemic,” said George Leondis, President and CEO of Argon. That business model “allowed us to keep supplying our products despite widespread material shortages and transportation delays,” he said.
An organic capability to produce production molds will help maintain control and product quality for mainstream manufacturing as the company scales, said Argon. Organic production of prototype molds will decrease time to market for new products in development. Further, Argon added that it can continue to support the needs of Matrex’s current customers, and offer mold production to new customers.
Frisco, TX–based Argon plans to keep Matrex located in its Portage, WI, facility and to continue servicing customers across the medical device, automotive, and other industries.
Founded in 1972, Argon manufactures, sells, and distributes disposable medical devices for interventional radiology, interventional oncology and vascular surgery procedures.