A Staunton, Virginia-based company has acquired Utitec Inc., a Watertown manufacturer of miniature, deep-drawn medical devices.
Cadence Inc., a contract manufacturer of medical components, announced Tuesday that it had purchased the firm, which also has a facility in Alajuela, Costa Rica.
Cadence said the acquisition gives it additional deep-draw capabilities and cleanroom manufacturing space.
Deep drawing is a sheet metal forming process in which a sheet metal blank is radially drawn into a forming die by the mechanical action of a punch.
“Acquiring Utitec better positions Cadence to lead the medical device contract manufacturing industry through investment, innovation and faster growth to best meet our customers’ evolving needs,” said Rob Werge, president and CEO of Cadence.
The company said that deep drawing is a lower-cost manufacturing process than conventional methods due to reduced labor and high-volume throughput.
Cadence employs more than 700 people and has another Connecticut location in Suffield, along with facilities in Pennsylvania, Rhode Island and Wisconsin.
