Argon Medical Devices, Inc. Acquires Matrex Mold and Tool, Inc.
FRISCO, Texas, Dec. 14, 2021 /PRNewswire/ -- Argon Medical Devices, Inc., a leading manufacturer of medical devices for interventional procedures, announced the acquisition of Wisconsin-based Matrex Mold and Tool, Inc., a custom mold manufacturer for plastic injection molding. Matrex produces metal injection production and prototype molds for the medical device, residential, and automotive industries, and has done so since 1985. Argon was a customer of Matrex for over 25 years prior to the acquisition.
This move advances Argon's efforts to vertically integrate within new product development and production. An organic capability to produce production molds will help Argon maintain control and product quality for mainstream manufacturing as the company scales. Organic production of prototype molds will decrease the time-to-market for new products in development. Further, Argon can continue to support the needs of Matrex's current customers, and now offer mold production to new customers as part of Argon's Custom Product Solutions business.
"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," said George Leondis, President & CEO of Argon. "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."
"We are excited to join Argon and support the company's mission to improve the lives of patients and caregivers through manufacturing and delivery of best-in-class medical devices," said John Matson, President of Matrex. "We have had a great relationship with Argon for many years, and we look forward to this next step."
Argon plans to keep Matrex located in their Portage, WI facility and to continue servicing customers across various industries.
About Argon Medical Devices, Inc.
Argon Medical Devices, Inc. manufactures, sells and distributes disposable medical devices for Interventional Radiology, Interventional Oncology and Vascular Surgery procedures. Based in Frisco, TX, Argon's brand is recognized throughout the world for best-in-class products and service that improve patient outcomes. Argon was founded in 1972 and 2022 marks the company's 50th year in business.
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