Medical device manufacturing and engineering services company Accellent Inc. has agreed to sell its Houston, Penn. facility for $8 million in cash to The Perryman Company, an international producer of titanium with customers in medical and industrial markets.
According to CFO Jeremy Friedman, the sale, for approximately $8 million in cash, is subject to purchase price adjustment required under the Asset Purchase Agreement for changes in inventory amounts through the closing date.
The Wilmington-based company, which engineers, manages and assembles medical devices for cardiovascular, endoscopic and orthopedic use, said that nearly all of the Houston employees will become employees of Perryman once the sale is final. The sale is expected to be complete in the second quarter 2012.