PCE Automation has announced the full acquisition of Irish company Adapt Engineering.
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Acquisition concept
Based in Dublin, Adapt Engineering has specialised in designing, manufacturing, and integrating automated machines and systems for over 30 years. The company works with companies like Medtronic, Teleflex, Boston Scientific, Biotronik and Biosense Webster to offer medical device dip coating systems, guidewire assembly and other manufacturing solutions.
From creating motherboard test rigs to pacemakers, and manufacturing stents to catheters, the company’s team of engineers and technicians have experience in planning, designing, and delivering turnkey solutions for critical industries.
Like PCE Automation, Adapt Engineering has a focus on the medtech sector.
Adapt’s geographical location offered an unmissable opportunity for PCE. Ireland is known as an innovation hub and is home to many of the largest life science companies. Pfizer has recently announced its plans to invest €1.2 billion in its Dublin manufacturing site; in 2022 Merck announced a €440 million expansion into Cork and Abbott Ireland is investing $450 million in a new site in Kilkenny.
Investment in Ireland has been seen as a key driver of growth for PCE.
Harry Cook, sales director of PCE Automation said: “Ireland has a cluster of innovative, future-facing organisations. The presence of 9 of the top 10 global pharmaceutical companies – and 14 of the world’s 15 biggest medical technology companies makes Ireland a prime location for PCE Automation. In addition, many of the world’s most prescribed drugs are manufactured in the country – we already have an impressive track record in dosing and filling automation, and working in cleanroom environments, so this is a prime area of expansion for us.”
For PCE, the appeal of the Irish medtech sector can be summed up in 10 stats:
- 450 – the number of companies in the Irish medtech industry.
- 42,000 – the number of people employed in the Irish medtech industry
- Largest – Ireland is Europe’s largest per capita employer of medical device professionals.
- Second largest – Ireland is Europe’s second-largest exporter of medical device products.
- 90% – nine of the world’s top 10 medical device companies have operations in Ireland.
- €12.6 billion – the value of Ireland’s annual medtech exports.
- Over 100 – the number of countries Ireland exports medical devices to.
- 80%– the number of stents used across the world that are manufactured in Ireland.
- 50%– the number of ventilators used in the world’s acute hospitals manufactured in Ireland.
- Number one – Ireland is the world’s number one exporter of contact lenses.
PCE says Adapt Engineering’s product range and customer base will help it gain a firm foothold in Ireland, allowing the company to build on joint reputations and forge collaborations with this medtech ecosystem to help bring modern automated solutions and fresh ways of working.
For Adapt, the acquisition offers additional access to resources, helping to accelerate their growth and expand its operations across Ireland and the rest of the world. For their current customers, there will be an enhancement of the core products and services and an expansion of Adapt’s pre-existing innovative approach to automation – PCE have a global reputation for innovation and quality and in April of 2023 PCE won the inaugural King’s Awards for Enterprise in recognition of its excellence in innovation within the ocular industry.
The acquisition has been seen to be mutually beneficial for all stakeholders involved.
Jaye Renehan, current MD of Adapt Engineering stated: “There is a clear synergy between PCE and Adapt and I am truly thrilled with the possibilities ahead. This acquisition isn’t just a merging of two companies: it’s a convergence of skills, expertise, and innovation. Together with PCE, Adapt is poised to redefine industry standards, expand our reach and amplify the impact of our shared vision. Our shared values and commitment to excellence will be the driving force behind our integration, guiding us to unlock unprecedented opportunities and I am steadfast in my belief this acquisition is a catalyst for future innovations within the medtech industry.”
