Kent-based medtech company ITL Group has been acquired by photonics technology leader, Gooch & Housego (G&H), the company has announced.
ITL Group
ITL Group was founded in 1977 to design, develop and manufacture medical and in vitro diagnostic (IVD) devices. Operating for over 40 years, the company has established a strong market position in the medtech sector.
The acquisition by G&H was conducted as part of its strategic objective to expand the scope of its medical division and move further up the value chain by transitioning from component supplier to critical partner.
Speaking about the acquisition, Tom Cole, managing director of ITL, said: “This acquisition will further broaden our service offering and strengthen our ability to provide our customers with innovative solutions to meet their challenging needs. We are excited to be working with the G&H team and look forward to collectively growing our company and continuing to deliver outstanding service to the medtech industry.”
ITL business development director, Greg Smith, said: “I am pleased that ITL Group is becoming part of Gooch and Housego as the strategic fit works for both companies. ITL will benefit from the critical mass that G&H has and G&H will benefit from ITL’s systems approach, which will enable it to move further up the “value chain” by developing larger modules and systems for its customers. In addition to looking after our growing number of current customers, I foresee a lot of new opportunities being generated by this synergy and I look forward to working and growing with the G&H team.”
