Argon Medical Devices — maker of devices for interventional procedures — announced today that it has bought plastic injection molding provider Matrex Mold and Tool.
The financial terms of the deal were not disclosed. Frisco, Texas–based Argon has been a customer of Wisconsin-based Matrex for more than 25 years.
Argon officials said the merger is about vertically integrating the company’s new product development and production, a strategy they say will make the company more resilient to the supply chain problems that have been dogging device companies and manufacturers in general.
“Our strategy to vertically integrate our manufacturing within the United States was vital to our growth throughout the pandemic as it allowed us to keep supplying our products despite widespread material shortages and transportation delays,” Argon CEO George Leondis said in a news release. “Matrex has been a reliable partner of ours for years. Adding their capabilities to our operations allows us to be even more dependable for our customers in these unprecedented times.”