Maple Grove Based SterilMed to be Acquired by Ethicon Endo-Surgery

Ethicon Endo-Surgery, a Johnson & Johnson company, announced Sept. 28 it entered into an agreement to acquire privately held .

The announcement, made via a press release from Ethicon Endo-Surgery, Inc., said financial terms of the agreement would not be disclosed. SterilMed, based in Maple Grove, reprocesses and remanufactures medical devices. Ethicon Endo-Surgery develops and markets medical devices. The Maple Grove facility houses 380 of the 800 SterilMed employees.

“This is an exciting opportunity for both our customers and our company,” SterilMed Chairman and CEO Brian Sullivan said. “Becoming part of the Ethicon Endo-Surgery franchise, one of the largest and most respected medical device companies in the world, will have a positive impact on our business, while also expanding our product portfolio.”

While SterilMed is expected to be managed as part of the franchise of Ethicon Endo-Surgery, the official press release states it will retain its name and operate as a “standalone” company.

“The time is right for Ethicon Endo-Surgery and SteriMed to come together, given the rapid occurring in the U.S. healthcare system,” said Ethicon Endo-Surgery representative Karen Licitra.

The timeline for the closing of the acquisition has not yet been disclosed.