Seisa Medical Inc., an El Paso-based manufacturer of components and products for the medical devices field, announced that it has closed a US$ 42.5 million senior secured credit facility with Sagard Credit Partners. The resources will be used to pay fees and expenses associated with the transaction, fund a dividend to shareholders and complete acquisitions.
Based in El Paso, Texas, Seisa is a full-service provider of integrated manufacturing and development to the medical device industry.
“We are excited to begin this relationship with Sagard Credit Partners as a long-term strategic and financial partner,” said Julio Chiu, Founder and Chief Executive Officer of Seisa. “With this facility, we are well positioned to execute on our growth strategy to expand through acquisitions in a prudent and accretive way.”
Specifically, Seisa plans to acquire companies that will expand its geographical footprint and enhance its expertise and service offerings in injection molding, tubing and extrusion, and device assembly.
"We're looking to expand our know-how with teams we can work together with," Chiu said at Medical Design & Manufacturing West, held Feb. 6-8 in Anaheim, as reported by Plastic News.
"We want to put our name out there because it's not as well-known as it should be," Chiu added.
Seisa Group is a global full-service medical device manufacturer with more than three decades of experience and a regulatory-focused culture (FDA-registered, ISO-certified).
The company partners with leading medical device companies on projects ranging from concept to production and product evolution of FDA Class II and III devices. The company’s more than 2,000 employees provide tailored solutions in molding, extrusion, device assembly, production scaling and packaging.
With its headquarters in El Paso, Texas, manufacturing sites in Juarez, Mexico and Myjava, Slovakia, and a logistics office in Hong Kong, Seisa plans to establish itself next in U.S. medical hubs like New England, Minnesota, northern California, eastern Texas and even Utah, says the Plastic News report.