Navigation Links
AMETEK Acquires Reichert Technologies
Date:10/17/2011

BERWYN, Pa., Oct. 17, 2011 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced that it has acquired Reichert Technologies, a privately held manufacturer of analytical instruments and diagnostic devices for the eye care market headquartered in Depew, NY.  The company was acquired for $150 million from Beecken Petty O'Keefe & Company and has estimated annual sales of $55 million.

Reichert Technologies is a leader and innovator in high-technology instruments used by ophthalmologists, optometrists, and opticians for vision correction and the screening and diagnosis of eye diseases such as glaucoma and macular degeneration.

"Reichert Technologies is an excellent acquisition, which expands AMETEK's business in the medical market.  It allows us to enter the highly attractive ophthalmic device market with an industry leader and innovator. Reichert Technologies invented the industry-standard Phoroptor® refraction device used in vision correction diagnosis.   Reichert also is the global leader in tonometry instruments used to measure intra-ocular pressure, which is important for glaucoma screening," notes Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.

"The acquisition of Reichert Technologies adds significantly to our position in the medical market and provides us with another adjacency to grow in this attractive market segment.  Reichert complements our acquisitions of Avicenna Technology earlier this year and Technical Services for Electronics in 2010.  Both of these businesses provide highly engineered components and connectors to the medical industry. Reichert Technologies also broadens the range of products we offer, which includes Precitech Optoform machine tools used in niche ophthalmic lens manufacturing," adds Mr. Hermance.  

Reichert Technologies joins AMETEK as part of its Electronic Instruments Group (EIG) --a recognized leader in advanced monitoring, testing, calibrating, and display instruments.  AMETEK EIG sells its instruments to the process and analytical, aerospace, power, and industrial markets worldwide and had 2010 sales of $1.3 billion.

Corporate Profile

AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices with annualized sales of $3.0 billion. AMETEK's Corporate Growth Plan is based on Four Key Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion and New Products. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P MidCap 400 and the Russell 1000 Indices.

Forward-looking Information

Statements in this news release relating to future events, such as AMETEK's expected business and financial performance are "forward-looking statements."  Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors and uncertainties include AMETEK's ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations; AMETEK's ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve.  A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K.  AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.

Contact:  William J. Burke (610) 889-5249


'/>"/>
SOURCE AMETEK, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. AMETEK Acquires Technical Services for Electronics
2. AMETEK ACQUIRES AVICENNA TECHNOLOGY
3. Upstream Biosciences Acquires Innovative Platform Technology and Drug Candidates for Tropical Parasitic Diseases
4. Image Solutions, Inc. Acquires Zurich Biostatistics, Inc.
5. U.S. Preventive Medicine Acquires Specialty Disease Management
6. MacroChem Acquires Rights to Pexiganan, a Novel Topical Anti-Infective for Treatment of Diabetic Foot Infections, From Genaera
7. Nastech Reacquires Teriparatide (Parathyroid Hormone; PTH1-34) Nasal Spray from Procter & Gamble
8. Prescient Medical, Inc. Acquires New Technology to Detect Inflammation in Coronary Blood Vessels
9. Hospira Acquires Worldwide Rights to Biogeneric Version of Filgrastim
10. Hospira Acquires Worldwide Rights to Biogeneric Version of Filgrastim and Manufacturing Facility From PLIVA
11. Wound Management Technologies Acquires Resorbable Orthopedics
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/10/2017)... Radiology has become the number one diagnostic ... spiraled to the number one ranking as a result.  ... before as the most complete and reliable method for ... back pain an MRI may confirm a suspected herniated ... in entirely different treatment protocols.  In these circumstances, patients ...
(Date:5/9/2017)... , May 9, 2017  Demonstrating its ... board of directors for the Pharmaceutical Research and ... for membership. Biopharmaceutical companies will now have to ... order to be eligible to join PhRMA. ... the board is sending a clear message that ...
(Date:5/8/2017)... YORK , May 8, 2017 ... the transition from fee for service reimbursement. Black Book ... 2017. 1.       The Market for MIPS ... 77% of physician practices with 3 or more ... Technology Solutions by Q4. "Given the magnitude of the ...
Breaking Medicine Technology:
(Date:5/28/2017)... ... May 28, 2017 , ... Florida Pain Relief Group, a ... Fernandez-Silva, M.D., has joined its new Melbourne pain clinic. , Dr. Fernandez-Silva’s ... invasive techniques to treat and manage many types of pain. , Dr. ...
(Date:5/27/2017)... ... May 27, 2017 , ... In any business, follow ... the talent of your dental team at presenting treatment, there will always be some ... lot of time and money on best practices when it comes to presenting treatment. ...
(Date:5/26/2017)... ... May 26, 2017 , ... ... CEO 2017 on May 30th and 31st at The Four Seasons Hotel Boston. ... executives in the life sciences, offering exclusive access to key decision makers who ...
(Date:5/26/2017)... ... May 26, 2017 , ... ... foods, is sharing bold recipes for Memorial Day entertaining that are sure to ... , “Boar’s Head fresh sliced meats and cheeses featured in these refreshingly balanced ...
(Date:5/26/2017)... ... May 26, 2017 , ... Silver Birch of Hammond, a new ... on more than four acres of land at 5620 Sohl Avenue in Hammond, serves ... square-foot building includes 125 studio and one-bedroom apartments. Each of the private apartments at ...
Breaking Medicine News(10 mins):