Rochester Medical gets green light
Stewartville's favorite silcone catheter maker, Rochester Medical, got a green light Wednesday for its $10.5 million purchase of a medical supplies company in the Netherlands.
Back in January, Rochester Medical announced an acquistion deal to buy a company called Laprolan B.V. from its parent firm of Fornix N.V.
Shareholders of Fornix voted to approve that deal this week. The sale is expected to close soon.
The acquisition fits with the international focus at Rochester Medical, which tallied about $42 million in sales last year.
The company exports the majority of the catheters it makes in Stewartville to European markets.
When asked if this addition could spur any expansion to the facilities in Stewartville, Rochester Medical's CEO and president said back in January that it could eventual drive growth.
We will definitely will be expanding in Stewartville," Jim Conway said in January. "We'll need it. Just this quarter, we've expanded our domestic sales staff (based in the United States) from 12 people to 40."