Cicor Acquires Evolution Medtec Srl, Enhances Capabilities
The Cicor Group (SIX Swiss Exchange: CICN) has announced its recent purchase and acquisition of 100% of the shares of the Romanian engineering company Evolution Medtec Srl as part of the company’s overall plan to expand and strengthen its engineering capabilities within the growing medical technology sector.
Founded in 2004, Evolution Medtec provides comprehensive engineering services with a particular concentration in medical and paramedical applications. The company has been active in designing, developing, and prototyping medtech product technologies for nearly 20 years. The company employs 25 people in Bucharest, Romania, at its FDA-certified global corporate headquarters and R&D center, with its operations ISO 13485 certified.
During its last fiscal year, Evolution Medtec generated sales in the lower single-digit million Euro range, with an EBITDA margin comparable to that of The Cicor Group. The company’s longstanding customer base is primarily medium and large medical device and industrial manufacturers located throughout Europe, the United States, and the United Kingdom.
Cicor is regarded as one of Europe’s fastest-growing designs, developers, and manufacturers of high-reliability electronics for the medical, industrial, aerospace, and defense sectors. As part of its acquisition of Evolution Medtec, Cicor will continue to provide first-class development services at Evolution Medtec’s existing Romanian site and continue under the leadership of the existing management team.
With both its acquisitions of Evolution Medtec and STS Defence (the latter transaction of which was completed in January 2024), Cicor aims to create one of the strongest R platforms in the European EMS industry, doubling its resources to develop highly advanced electronic solutions for the medical, industrial, aerospace and defense markets.
For more information about Circor and its available product and service offerings, please visit www.cicor.com.
Source/Photo Credit: The Circor Group
About The Circor Group:
The Cicor Group is a globally active provider of full-cycle electronic solutions from research and development to manufacturing and supply chain management. Cicor’s approximately 2,700 employees at 17 locations serve leaders from the medical, industrial, and aerospace defense industries. Cicor creates customer value by combining customer-specific development solutions, high-tech components, and electronic device manufacturing. The shares of Cicor Technologies Ltd. are traded at the SIX Swiss Exchange (CICN). For further information, please visit the website www.cicor.com.
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