Brady Corporation, known for its variety of identification products and technologies, from badge ID systems to the lanyards that badges hang upon, moved into a bit of a different market today.
The company announced that it had acquired Precision Converters, a Dallas firm that supplies die-cut products to the medical industry. Precision Converters range from wound closure strips to acne-control patches, wound dressings and even anti-microbial foams.
According to a statement from Brady Corp., Precision Converters employs about 80 people, and had roughly $10 million in sales last year.
While Brady's manufacturing is best known in the security industry for products like JAM Plastics, the company has quietly been handling die-cut manufacturing for other industries, including medical markets. According to Brady's Vice President Scott Hoffman, the move isn't an entirely new direction for the company.
"The acquisition of Precision Converters, and with it the addition of wound-care products to our offering, adds significant breadth and strength to Brady's medical die-cut business capabilities," said Hoffman in a prepared statement announcing the acquisition. "By combining Brady's global infrastructure and die-cut expertise with Precision Converters' experience in the fast-growing medical device market, we have an exceptional opportunity to provide a broader offering to our medical customers, as well as provide local supply and service to their customers who require global manufacturing capability, particularly in Asia."