Accutronics specialises in the custom battery design, development and manufacture of smart batteries, chargers and accessories for OEMs predominantly in the European medical technology sector, an industry experiencing rapid growth with experts predicting high single-digit growth in the global medical batteries market.
Michael Popielec, Ultralife's president and chief executive officer, said: "Acquiring Accutronics advances our strategy of commercial revenue diversification and expands our geographic reach within European OEM's. With industry experts predicting mid-to-high single digit growth in the global medical batteries market, this strategic investment positions Ultralife well for further penetration of and growing revenue streams from an attractive commercial market."
Rob Phillips, sales and marketing director at Accutronics, said: "This acquisition makes us an even stronger strategic supply partner to our international MedTech key accounts. Not only has Ultralife recognised our vision for leading innovation, investment in R&D, and customer service, it also recognised the growth potential from our established position in Europe."
Accutronics will continue to trade normally with no disruption to existing teams, customer purchase orders, contracts or agreements. Continuity of business relationships will be ensured with the Accutronics senior management team of Rob Phillips and Mike Allen remaining in their current roles.
