LDI Adds Medical Device CompanyPosted: Updated:
Indianapolis-based LDI Inc. has acquired a medical device manufacturer. UltiMed Inc. is headquartered in Minnesota and has operations in South Korea and South Dakota. September 23, 2014
INDIANAPOLIS, Ind. - LDI Ltd. today announced the acquisition of UltiMed Inc., a rapidly growing manufacturer of injection related devices to the consumer, institutional, and veterinary markets. UltiMed is headquartered in Minneapolis and owns and operates manufacturing facilities in De Smet, South Dakota, and Gong-Ju, South Korea.
For over 25 years, UltiMed has provided diabetes patients with smooth and comfortable injection devices. UltiMed products are complemented by a proprietary dispense and dispose packaging system that enables patients to more easily and safely dispose of used sharps. The company markets its products under the UltiCare brand, as well as under private label and co-branding arrangements.
This acquisition signifies an exciting opportunity for LDI.
"Finding the next platform business has been a top priority for LDI," said J.A. Lacy, President and CEO. "Jim Erickson and the UltiMed management team have built a growing and profitable company based on high-quality, user-friendly products and a commitment to customer service. We are excited to work with the UltiMed team on a strategy to accelerate their growth and welcome them to the LDI family."
"Our manufacturing business is a great fit with LDI," said Jim Erikson, UltiMed President. "We welcome LDI's experience in distribution and their culture as a family office. We are excited to partner together to grow our business."
This acquisition marks the second for LDI this year following the merger of LDI's Tucker Rocky with Motorsport Aftermarket (MAG) to create a vertically integrated player in the powersports industry. LDI also owns OIA Global, a third-party global logistics provider acquired in 2010. LDI employs an investment strategy to build enduring value through customer focus and continued improvement over long term investment horizons.
About LDI Ltd.
LDI is an Indianapolis-based family office with more than a century of experience operating high-potential, middle-market companies. Originally founded by the Lacy family in 1912 as U.S. Corrugated-Fibre Box Company, LDI today seeks investments in manufacturing, distribution and logistics businesses. LDI businesses employ more than 2,500 people in more than 20 countries.
About UltiMed Inc.
UltiMed, Inc., headquartered in Minneapolis, MN, is a manufacturer of drug injection delivery devices including insulin syringes, pen needles, and safety syringes for the domestic and international markets. The company owns and operates state-of-the-art medical device manufacturing facilities in the U.S. and abroad. UltiMed's broad product offering is valued by pharmacies, physician offices, health care facilities, and veterinary clinics. UltiMed's exclusive UltiGuard packaging system makes the company a world leader in safe needle disposal. The UltiGuard package combines convenient needle storage and a sharps disposal container all in one system, ensuring used needles are properly contained after use. For more information, visit www.ulticare.com.