Planet Innovation acquires BIT Group's North American operations, doubling its medtech manufacturing capacity

MELBOURNE, Australia, Nov. 12, 2021 /PRNewswire/ -- Planet Innovation (PI) has acquired the North American operations of global regulated medical device manufacturer, BIT Analytical Instruments GmbH.

The acquisition solidifies PI's commitment to grow its US manufacturing capabilities to support its growing US customer base.

Based in Irvine, California, the addition of BIT Group's 29,000 ft² facility will more than double PI's manufacturing capacity for regulated medical devices and is anticipated to contribute around AUD$25M to its annual revenue.

"The team at BIT Group have built a world-class manufacturing outfit in California, producing cutting-edge devices to the highest standards," said PI Co-CEO Sam Lanyon.

Founded in Germany in 1976, BIT, part of the Messer Group, will continue to operate for its global customers from locations in Europe and Asia. Leveraging its strong reputation and extensive capabilities, BIT will retain its focus on researching, designing, developing, and manufacturing innovative hematology systems and will remain a trusted OEM partner for engineering and manufacturing high performance clinical, medical and life science devices.

"BIT's recent strategic review resulted in the decision to focus on our European and Asian operations," said BIT Group CEO Dr. Michael Bartels. "After a focused process, Planet Innovation emerged as the ideal partner to acquire our US operations and to continue its growth in the US market."  

The acquisition will transfer BIT Group's US client base to PI and see all 80 staff joining PI, taking PI's global team to 500.

"Adding BIT's expert team and their Californian facility supports PI's long-term strategy to grow our manufacturing capabilities in the US and Australia. We now have two state-of-the-art facilities close to our development teams and clients, with plans for further expansion in the near future," Sam said.

"Our manufacturing strategy hinges on removing the barriers between manufacturing and design, to help our clients achieve strong commercial outcomes," he said.

"Unlike typical contract manufacturers, PI believes that manufacturers have invaluable insight into how products perform, which enables them to drive innovation and help them conceive new product opportunities. We're excited to roll out this approach in the new US facility and continue to build PI into the world's most innovative healthtech product provider."

Planet Innovation was founded in Melbourne, Australia in 2009 with a global focus from the outset, and US-based companies now make up more than 70 per cent of PI's client base.

About Planet Innovation

Planet Innovation^[1] (PI) is a healthtech innovation and commercialization company that exists to create breakthrough products and commercially successful businesses that transform industries and have a positive impact on the world. PI offers clients the full spectrum of product design, engineering and manufacturing services needed to develop and commercialize products for the diagnostics, life sciences and healthcare industries. It also makes strategic investments in selected global healthtech companies to help drive commercial success and build long-term partnerships.

About BIT Group

BIT Group design, develop, manufacture, and service high performance analytical medical, and life sciences devices. Recognized as an innovative, efficient, and reliable partner, BIT serve a global customer base of leading OEMs, established small and medium sized enterprises, and fast-growing startups. With proven systematic approaches and an unwavering commitment to quality standards, BIT optimize time to market, total cost of ownership, and provide complete lifecycle support for IVD devices. As a Messer family company, BIT benefits from a global network of high-tech organizations.

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References

1. ^{^} Planet Innovation (www.planetinnovation.com)
2. ^{^} https://www.prnewswire.com/news-releases/planet-innovation-acquires-bit-groups-north-american-operations-doubling-its-medtech-manufacturing-capacity-301422701.html (www.prnewswire.com)