"We're not in the real estate business, so we will be looking at opportunities to do a sale-leaseback," says Richard Effress, chief executive of Minnetonka,MN-based MedSource, which provides manufacturing services to the medical device industry.
Effress says the facility, which is near a residential neighborhood, is undergoing an expansion. Cycam, with nearly 100 employees, provides machining, engineering and research and development capabilities to the reconstructive implant market, which accounts for more than 40% of the $11.9 billion orthopedic device market. Effress says he likes both their plastic machining and implant coating technologies, as well as the opportunity for MedSource to cross-sell to their customer base, which includes four of the world's eight largest orthopedic device companies.
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