Evonik Corporation has signed an agreement with Compounding Solutions LLC, a global leader in custom medical plastics compounding and distribution, for the distribution of its portfolio of VESTAMID® Care ML polyamide 12, VESTAMID® Care ME polyether block amide (PEBA), TROGAMID® Care clear polyamide, and VESTAKEEP® Care PEEK medical grade polymers for the North American temporary contact (in vivo <30 days) medical device markets effective September 1, 2018.
Evonik’s medical grade polymers are used throughout the medical device industry in a variety of applications including stockcocks, housings, imaging devices, drug delivery systems, surgical devices, dental and highly engineered catheters and balloons for percutaneous transluminal coronary angioplasty (PTCA) and stent deliveries. Evonik Care medical grade polymers meet USP Class VI requirements, ISO 10993 biocompatibility and each offers great benefits for the temporary contact (<30 days in-vivo) medical applications.
“We are very excited about this distribution alliance with Compounding Solutions,” said Basker Lalgudi, business development manager of Evonik Corporation’s High Performance Polymers Business Line. “Compounding Solutions brings over 20 years of polymer expertise, strategic relationships with global OEMs and knowledge of material selection. They also offer specialty and custom compounds tailored to meet the needs of validation engineers. This will greatly help the medical industry as a whole with resin supplies in smaller 5-10 kg quantities for new projects to determine the best product-fit, as well as dedicated support from early-stage projects to full scale commercialization phase,” he added.
“Evonik has shown commitment to continued innovation in the medical sector with the investments in our Medical Center of Excellence in Lafayette, Ind., where customers can take advantage of process development support using the latest technology in compounding, injection molding, extrusion and sophisticated lab test equipment, as well as the recent opening of our Medical Device Competency Center in Birmingham, Ala., focusing on additive manufacturing, cardiovascular technologies, biodegradable polymers and orthopedic applications,” said Kenneth Ross, medical group manager for Evonik’s High Performance Polymers. “The addition of Compounding Solutions was a strategic decision, filling the need for specialty medical compounding, custom blends and distribution, to further strengthen the area of innovation our customers and the medical industry expect from a leading medical polymer and materials company like Evonik.”
“Compounding Solutions is very excited to work with Evonik who is equally dedicated and focused on bringing superior quality, lifesaving materials to the medical industry. Together we can combine our materials, technologies and services to better serve all medical customers,” said Scott Neal, owner & general manager of Compounding Solutions. “Our strategic expansion in both logistical warehousing and compounding capabilities since early 2017 will greatly benefit the market as a whole and our distribution alliance.”
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees. In fiscal 2017, the enterprise generated sales of €14.4 billion and an operating profit (adjusted EBITDA) of €2.36 billion.
About Resource Efficiency
The Resource Efficiency segment is led by Evonik Resource Efficiency GmbH and produces high performance materials and specialty additives for environmentally friendly as well as energy-efficient systems to the automotive, paints & coatings, adhesives, construction, and many other industries. This segment employed about 10,000 employees, and generated sales of around €5.4 billion in 2017.
About Compounding Solutions
Compounding Solutions is an industry leader in producing high quality, specialty polymer compounds for the medical device industry, a leader in technological advancement, and has a wealth of knowledge in materials selection and custom formulation development for class I, II, & III medical device applications for almost all global medical device OEMs. For more information on Evonik CARE products, visit the company website at www.compoundingsolutions.net
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.