On November 9, 2022, Molded Devices, Inc. (MDI), a specialist in plastic component manufacturing, has acquired two companies from Schauenburg Hose Technology: GlobalMed Inc. (Canada) and Schauenburg-Truplast (China). GlobalMed, based in Trenton, Ontario, has over 40 years of experience in medical tubing and extrusion, serving medical device OEMs in areas like anesthesia and sleep apnea, with offices in Canada and China. Gregg Tobin, CEO of MDI, highlighted that the acquisition aligns with MDI's global growth strategy, merging MDI's molding technologies with GlobalMed’s extrusion expertise. This will enhance the offerings to customers globally. Marc Georg Schauenburg, CEO of the parent company, lauded GlobalMed’s growth over the past two decades. Richard Meyer, co-CEO of Schauenburg Hose Technology Group, sees MDI as the right partner for GlobalMed's future growth. MDI offers services like injection molding and clean room assembly. The management of GlobalMed from both Canada and China will join MDI’s leadership. John Pless from TruArc Partners, the majority owner of MDI, expressed support for the acquisition. Legal and financial advisory roles were played by Houlihan Lokey, Westend Corporate Finance, PwC, Fasken, and JunHe for Schauenburg and GlobalMed. Meanwhile, Davis Polk provided legal counsel and SVB Securities served as the financial advisor for MDI and TruArc Partners. The financial details of the transaction remain undisclosed.