Freudenberg Medical, a global contract design and manufacturing (CDMO) partner to the medical device and biopharma industry with facilities in key industry hubs across the Americas, Europe and Asia, announced plans to further expand its drug device combination products business. The company is investing more than 50 million USD in a new Hemoteq AG production facility in Aachen, Germany, one of the most important life science hotspots in Europe.
Through the acquisition of Hemoteq in 2015, Freudenberg Medical expanded its portfolio to include drug coating solutions for balloon catheters and stents as well as hydrophilic coatings. “Hemoteq and Freudenberg joining forces is a great success story,” said Dr. Michael Hoffmann, CEO and founder of Hemoteq, during the groundbreaking ceremony for the new site. “Our business has grown exponentially over the last 10 years. With this new facility, we are not only expanding our capabilities but also reaffirming our roots in the region.”
Vertically integrated solutions to meet customer needs
The company will triple its manufacturing footprint with the new 130,000 sq. ft. facility in Alsdorf, located near the existing site. With its ISO Class 7 cleanrooms, laboratories, and offices it will serve as a hub for research, development, and production, driving innovation in medical coatings.
The predicted global market value of drug device combination products is 180 billion USD annually by the end of the decade. “The convergence of medical devices and drugs is inspiring a new generation of innovative products that fundamentally improve patients’ outcomes,” says Dr. Mark Ostwald, CEO of Freudenberg Medical. “With this innovation driven investment, we are strengthening our position as a strategic partner to our customers, offering vertically integrated solutions along the entire supply chain.”