Tricol International Group Ltd., a Marshall Islands based company and global leader in microfiber products, along with its 100% wholly owned Oregon based subsidiary Tricol Biomedical, Inc., announced today that it has acquired HemCon Medical Technologies Inc. Effective immediately, HemCon will operate as Tricol Biomedical, Inc.
Pursuant to this acquisition Tricol Biomedical, Inc. has purchased the entire HemCon medical device business, including the rights to the HemCon brand name, as well as the full hemostatic antibacterial wound care product line. Under Tricol Biomedical the manufacture and distribution of HemCon products will continue uninterrupted.
The HemCon brand has been a top choice wound closure device since the original foundation in 2001. Over the last 15 years HemCon has established itself as a house-hold name in acute care facilities, dental clinics, military organizations and first aid applications across the nation, as well as internationally, with its reputation of reliable, safe, and innovative products. As the company begins this new chapter, strategic focus will be given to high growth markets such as surgical and chronic wound care.
Michael Wax, will continue in his current position as President and Chief Executive Officer for the wholly owned subsidiary Tricol Biomedical Inc. and will be based at the Portland, OR corporate facility, reporting to the Board of Directors.
The Irish and Czech facilities previously associated with HemCon will continue to operate independently as HemCon Medical Technologies Europe, Ltd. and will report to
Mr. Hongwei Duan, CEO of Tricol International Group Ltd., commented on the importance of this acquisition: "With our combined world-class global presence and expertise in chitosan materials, the synergy between the two companies' business models will allow us more flexibility and faster response time to customer needs and trends in the market. With this acquisition we are also establishing our entry into the wound care market, a key focus for Tricol, while building on the momentum in the core professional, surgical, and emergency medical market customer base, accessing new consumer markets worldwide with innovative products currently in development."
Mr. Wax added, "Under Tricol's guidance, we are looking forward to implementing the strategic direction of the company for continued commercial success and growth within both the U.S. and global market. The HemCon brand will continue providing medical practitioners worldwide with the highest-quality, most cost-effective solutions for bleeding control and wound care in all professional and consumer medical settings."
About HemCon Medical Technologies
HemCon Medical Technologies Inc., founded in 2001, develops and markets innovative technologies that address wound care from closure to treatment. HemCon products are designed for medical professionals in hospital, dental and clinical settings, as well as by military and civilian first responders where rapid control of bleeding is of critical importance. HemCon is headquartered in Portland, Ore., with additional commercial operations in Ireland and the Czech Republic. For more information, please visit www.hemcon.com.