Israel’s Degania Silicone is looking at a buy out offer from Q Holding that could be worth as much as $300 Million. Israeli business paper Globes is reporting that the American medical equipment company is currently holding talks with the Israeli medical manufacturer.
Degania Silicone is named for the historic Kibbutz on the Sea of Galilee where it is located. The company specializes in the development and production of catheters and other silicone medical products and components; cardiovascular/vascular catheters and stents; products for intensive care, operating rooms and cardiology as well as custom procedure trays. Kibbutz Degania Bet and Omri Mairon founded Degania Silicone in 1984.
Based in Ohio, Q Holding is a global manufacturer of precision-molded elastomeric components used in a broad range of electrical connector, insulator, and medical and pharmaceutical applications.
According to Globes, Omri Mairon and former CEO Amos Nahir, who own 11% of the company, will also receive tens of millions of dollars from the acquisition. IGI, owned by Eli and Nir Barkat, own 19% of the company’s shares, which they bought in 2006 for $4.8 million. IGI will receive eight times its investment.