New York - SpongeTech Delivery Systems Inc.'s recent purchase of Dicon Technologies has added over 40 new cosmetic, footwear, and medical products to its portfolio, the company said 7 Aug. The acquisition was completed 9 July 2009.
Dicon's cosmetic product line uses patented, latex-free hydrophilic foam, which is also suited for medical bandages, wraps and as liners for casts and braces, the statement said. Andover Medical Inc.'s AFD Absorbent Foam Dressing is currently using the foam technology, SpongeTech pointed out.
Dicon, also a manufacturer of OEM footwear components and replacement insoles, distributes in the US, Canada and Asia.
"The expansion of the company's product portfolio will certainly enhance the bottom line and as we look to combine both Dicon's and SpongeTech's distribution channels, we expect to aggressively expand our presence into over 100 000 retail locations by the end of the year," said SpongeTech coo, Steve Moskowitz, adding that the acquisition of Dicon's products will allow the company to tap into markets it has yet to enter. (RD)