SOURCE: Gaymar Industries

July 02, 2008 12:02 ET

Gaymar Acquires Sunshine Manufacturing, Leading Producer of Specialty Gel Components

ORCHARD PARK, NY--(Marketwire - July 2, 2008) - Gaymar Industries, the leading global provider of medical solutions for pressure ulcer and temperature management, announced today that the company has acquired the assets of Sunshine Manufacturing, LC, an innovative manufacturer of specialty gel components located in Alpine, Utah. Gaymar was Sunshine's largest customer. Terms of the sale between the two private parties were not disclosed.

As part of the transaction, Gaymar also acquired a new license agreement that gives the company exclusive worldwide rights to new gel technologies, offering promise for potential new medical mattress products. Gaymar's strategic plans include a variety of objectives to provide a wide range of pressure ulcer management products in order to address its customers' support surface needs.

The acquisition, consistent with Gaymar's commitment to increase the production capacity for the gel components used in its ISOFLEX® medical mattress, will result in additional production capacity being added immediately.

"The assets of Sunshine Manufacturing clearly meet Gaymar's criteria for strategic acquisitions," said Frank L. Lumbar, Gaymar's Chief Executive Officer. "This acquisition will give Gaymar the ability to further support its Mission Statement to prevent or relieve pain and suffering and enhance the quality of life."

Having established a reputation for quality, Gaymar is a leader in the areas of pressure ulcer management and temperature management. Today, the Gaymar name is synonymous with innovation and excellence. The development of innovative new products has been a part of the company's culture since its inception and continues to be a core element of its strategy.

The company continues to develop new products, new applications and new markets. Gaymar produces:

--  Highly engineered bed surfaces used to prevent and treat pressure
    ulcers (bedsores)
--  Sophisticated devices that keep patients warm in the operating room by
    warming their blood or fluids, the air around them or the surfaces beneath
    them
--  High-tech devices to help cool patients with fever or who have
    suffered cardiac arrest or other conditions that cause interruptions in
    blood flow to the brain
--  Innovative devices for localized warming of the body
    

"As Gaymar pursues its purpose, we continue a strong history of success. In each of the past five years, Gaymar has delivered record revenue. But more important, we view our success along the lines of our values: caring, passion, quality, innovation and integrity. It is through these values that we measure our true success," Lumbar said.

Gaymar has provided innovative products and services to the healthcare marketplace for more than 50 years, with state-of-the-art manufacturing facilities located in Orchard Park, N.Y., Guayama, Puerto Rico and Kitchener, Ontario, Canada. Collectively, the companies represent a sophisticated engineering, manufacturing and marketing network of global significance, serving customers in over 50 countries throughout the world. With this acquisition, Gaymar's worldwide workforce now exceeds 500 employees.

Gaymar Industries is owned by Nautic Partners, LLC, a private equity firm with a 21-year track record of investing in business services, manufacturing, healthcare and communications industries. "The Sunshine purchase is an integral part of Gaymar's strategy for future growth," said Chris Crosby, Managing Director at Nautic. "We are currently pursuing a number of opportunities to grow Gaymar's business, and this transaction represents an important step."

Additional information on Nautic Partners is available online at www.nauticpartners.com.

About Gaymar

Founded in 1956, Gaymar produces state-of-the art pressure ulcer and temperature management solutions that provide relief to millions of patients annually worldwide with unmatched efficacy, comfort and safety. Owned by the Nautic Partners, LLC, Gaymar is also a global leader in health education clinical studies and clinical resources that deliver a multi-faceted approach for preventing or relieving pain and suffering to enhance the quality of life. Gaymar is committed to the development of clinical solutions in a way that promotes caring, passion, quality, innovation and integrity. Visit Gaymar on the Web at www.gaymar.com.

ISOFLEX® is a registered trademark of Gaymar Industries. All other trademarks are the property of their respective owners.

Contact Information

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