Heerlen, the Netherlands - Life science and materials science company Royal DSM NV said 29 May that it has closed the acquisition of biomedical polymer manufacturer, Polymer Technology Group Inc. (PTG) based in Berkeley, California.
Originally announced 28 April, the acquisition will see PTG become DSM PTG. Bob Ward, president and one of the original founders of PTG, will stay on as president of DSM PTG to ensure a smooth transition.
Steve Hartig, president of DSM Biomedical commented, "With PTG, DSM obtains a leading position in the field of biomedical polymers. The acquisition will enable us to grow a unique portfolio of materials-based technologies for the healthcare market. This will allow acceleration in our business growth and market presence."
DSM said in the statement that the acquisition of PTG is an important step to realising its ambitions in biomedical materials, one of the emerging business areas defined in DSM's Vision 2010 strategy.
PTG's portfolio of biomaterials in clinical use today includes segmented polyurethane, polycarbonate-urethane and silicone polycarbonate urethane.