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DSM Buys Biomedical Materials Business

1:38 AM MDT | April 28, 2008 |

Natasha Alperowicz

DSM says it has agreed to buy The Polymer Technology Group (PTG; Berkeley, CA), a privately held company active in biomedical polymers, for an undisclosed price. The acquisition is subject to regulatory approvals and is expected to close in the second quarter of this year. PTG's sales are expected to reach $40 million this year with an above average profit margin, DSM says. PTG expects more than 20% annual sales growth in the next 3-5 years, based on existing business and its pipeline of new products. The business, co-founded in 1989 by Bob Ward, a pioneer...

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