An Indianapolis-based medical case and tray manufacturer is expanding its orthopedic industry footprint. Arcamed Inc. has acquired Memphis-based Veracity Medical Solutions. Chief Executive Officer Jon Desalvo says the deal gets the Hoosier company into the market he calls the "Warsaw of Tennessee," making reference to the Kosciusko County and southern cities’ global strength in orthopedics manufacturing.
In an interview with Inside INdiana Business, Desalvo says the acquisition is two years in the making. "We found Veracity Medical about six or seven months ago. From a cultural-fit perspective, this is the first company that we’ve come across that really matches our values and the way we like to do business and it is a great bolt-on," Desalvo said about the surgical instrumentation and implant contract manufacturer, "because we feel we’ll be able to service the orthopedic environment or market in a way that we have been already from the case and try side."
Desalvo says the Veracity name and Memphis presence will remain and nearly 20 employees are part of Arcamed, which employs around 40. He says the acquisition offers some synergies, including the same "call point" for Veracity and Arcamed customers "and we now have an orthopedic customer base of over 100 customers, which should really open a lot of doors for us to grow both of these businesses strategically."
You can connect to more about the acquisition by clicking here.
Indianapolis-based Arcamed Inc. Chief Executive Officer Jon Desalvo says the acquisition is two years in the making.