DAYTON, OH-Gemcity Engineering and Manufacturing (GEM), a Dayton-based contract manufacturer, announced today it acquired Vistek Medical, a contract manufacturer of medical implant and specialized components located in Ivyland, PA.
"We are delighted to add the specialized medical precision machining capabilities of Vistek to GEM's Manufacturing expertise," says Jim Whalen, CEO of GEM. "Vistek's reputation for quality and its customer service orientation are a strong fit with GEM's culture."
Vince Visco, founder of Vistek, will join the GEM executive team and continue to manage the Vistek operations. "Together with the team from GEM, I believe we are an outstanding supplier for customers who demand quality, service and on-time delivery," notes Visco. "Leveraging GEM's expertise and resources will help Vistek achieve its next level of success."
This acquisition is part of an overall growth and acquisition strategy for GEM that began with its partnership with Riverside Partners, a middle market private equity firm based in Boston, Massachusetts. Riverside is the majority owner of GEM and provided the financing to complete this acquisition.
The combined companies can now offer their customers a broader array of technical capabilities from plants in Ohio, Pennsylvania and Thailand.
GEM Acquires Vistek Medical
June 2, 2010